Silicon Flow Completes B+ Round II and C Round Financing, Totaling Nearly 2.9 Billion Yuan

Huo Xing Finance reports that Silicon Flow, a third-party AI inference infrastructure company, has completed its B+ Round Phase II and Series C financing. The company transforms computing power and models into directly callable token services. By 2026, the company’s cumulative equity financing has approached RMB 2.9 billion; the specific amounts for these two rounds have not been disclosed. Based on 2025 token annual throughput, Silicon Flow ranks fourth among all token suppliers in China, with a market share of 1.5%. The top three—Volcano Engine, Alibaba Cloud, and Baidu Intelligent Cloud—hold 42.7%, 32.5%, and 11.8% respectively, totaling approximately 87%. New investors in this round include China Internet Investment Fund, Guoxin Fund, China Mobile Chain Leader Fund, and China Orient Asset Management International, while Yao Tu Capital, Shengyi Capital, and Guotai Venture Capital continued to participate. Silicon Flow reported revenue of RMB 55.33 million in 2025, with a net loss of RMB 345 million and an overall gross margin of -24%. As of the end of June, the company submitted its listing application to the Hong Kong Stock Exchange and is currently seeking a main board listing under Rule 18C for “uncommercialized companies.” Beijing has just released China’s first provincial-level policy dedicated to the token economy, explicitly aiming to build a “world-class token factory” and identifying inference engines, model-chip adaptation, and heterogeneous computing as key focus areas.