---
title: "Unique Research: February 2024 China AIGC Industry Monthly — Capital"
author: "Unique Research"
sourcePublication: "Unique Research (FFCAP English library)"
originalPublishedAt: "2024-03-18T19:00:00+08:00"
canonical: "https://ffcap.cn/en/research/20240318a08dcj00"
source: "https://ffcap.cn/en/research/20240318a08dcj00"
language: "en"
cnSourceUrl: "https://view.inews.qq.com/a/20240318A08DCJ00"
---

# Unique Research: February 2024 China AIGC Industry Monthly — Capital

_Unique Research · Capital monthly · March 18, 2024_

February 2024 AIGC financing — China & overseas headlines, active investors, secondary-market color, and named deals from the CN text. Methodology note and ~14 CN charts attach on ingest. Do not invent table rows from charts; only figures stated in CN prose are treated as facts here. (CN typo “7103.6亿” for Moonshot normalized to ~¥7.1B / $1B per surrounding text.)

## Contents

1.  February financing snapshot
2.  China financing
3.  Overseas financing
4.  Secondary-market trading
5.  Named deals
6.  Report statement

## Methodology / data note

Word clouds and financing boards draw on **Xiniu (烯牛)** platform data plus Unique Research inference from public information. Secondary market cites **East Money** (as of Feb 29). For research reference only — Unique Research accepts no legal liability; cite Unique Research when using. Charts (~14) attach on ingest.

## 01 · February financing snapshot

-   Global AIGC financing Feb: **¥22.96B**, **+200%** vs January — capital attraction continuing to rise
-   Series B and later: **93.0%** of financing amount
-   Largest global & China check: **Moonshot (月之暗面)** — ~**$1B** (~**¥7.1B**); disclosed as the company’s 2nd raise; led by **Alibaba**; Sequoia China, Xiaohongshu, Meituan, China Merchants / CMC follow
-   Deals >¥100M: **21** events, **52.5%** of count
-   China Feb total: **¥8.16B** across **19** deals — **+¥7.486B** vs prior month

### YTD through Feb (country color)

-   **China** — **42** deals (overtook U.S. **31** by count)
-   **U.S.** — amount lead **¥12.531B**
-   France **4** deals / **¥3.806B**; UK **4** / **¥1.816B**
-   Also Canada, Germany, Japan, Israel, Egypt, Singapore, Netherlands, Austria — fewer deals, still material participation

## 02 · China financing

### 2.1 Active investors (YTD through Feb)

By deal count: **MiraclePlus (奇绩创坛)** — **16** (#1). **Sequoia China, Hillhouse Ventures, Sinovation, Lenovo Capital, BlueRun** — **8** each (#2 band).

By cumulative amount: **Alibaba** >**¥3.5B** (#1, driven by Moonshot $1B lead). Same Moonshot round also lifts Meituan, Sequoia China, CMC, Xiaohongshu into top-10 amount names.

### 2.2 Hot projects

Moonshot $1B; Meituan full acquisition of **ZCOOL (站酷)** ~**$39.64M** (>¥280M). ¥100M–¥1B band names cited: Aochuang Guangnian, Haomo.AI, Wanxiang Electronics, Zhixingyun, Weiding Tech, Bohan Intelligent, etc. Smaller: Global Murphy, Transn, SiliconFlow, Babel AI, etc.

### 2.3 By stage (Jan–Feb)

-   Early-stage events: **14** (>30% of China deals) — still early industry
-   Undisclosed / equity / strategic lumped as “strategic”: **21** strategic investments in 2 months
-   **3** acquisitions — early consolidation signal
-   Early-stage amount: **¥0.384B** total; avg ~**¥27.43M**/deal; Series A: **5** projects / **¥0.242B**
-   Acquisition amount: **¥0.482B**

## 03 · Overseas financing

### 3.1 Hot projects (Jan–Feb amount board, CN prose)

-   **Mistral AI** — ~**¥3.0B** (#1)
-   **Lambda** — ~**¥2.472B**
-   **Genmo** — ~**¥2.131B**; **Anthropic** — ~**¥2.0B**
-   **KAO Data** — ~¥1.463B; **Glean** — ~¥1.421B; **Abridge** — ~¥1.066B
-   Smaller: Wisedocs, Collov, FlowGPT, SEMRON (~¥50–100M band)

### 3.2 Active overseas investors

\>**200** institutions invested overseas AI in Jan–Feb. Five firms did 3 deals each. By Unique Research estimated cumulative: **NEA** ~$2.328B (#1); **a16z** ~$912M; **Kleiner Perkins** ~$652M; **Lightspeed** ~$645M; **General Catalyst** ~$217M. Single largest check cited: **Microsoft** ~$3B class.

### 3.3 By stage

-   Early-stage events: **38** (>60% of overseas count)
-   Growth/mature amount share higher than China
-   Strategic: **¥9.802B** (#1 amount); Series C **¥3.800B**; seed ¥0.979B; angel ¥0.888B; A ¥1.649B; B ¥3.228B; D ¥1.421B; E ¥0.533B; acquisitions ¥0.100B

## 04 · Secondary market (East Money, as of Feb 29)

AIGC concept index: **1,396.43**, **+11.22%** MoM; turnover **¥691.9B**; turnover ratio **70.97%**.

Top 5 gainers: **Insight Group (因赛集团, 300781)** 54.62 / +72.85%; **ChineseAll (中文在线, 300364)** 28.87 / +61.38%; **Guomai Culture (国脉文化)** 16.76 / +55.91%; **WhenRai (当虹科技, 688039)** 35.00 / +45.53%; **Anoky (安诺其, 300067)** 3.73 / +38.66%.

Company blurbs (brand marketing; digital publishing; data governance; video codec/AI; fine chemicals) are in CN text — charts attach on ingest.

## 05 · Named deals (China)

-   **Tushen Zhihe** — hundreds-of-thousands-RMB angel (Chengmei Capital) after photon-core-valley seed; AI protein design (ProteinEngine)
-   **LINKER / Lianhui** — multi-¥100M strategic (China Mobile industry fund lead; Qianhai FoF vehicles)
-   **Haomo.AI** × Chengdu Wufa — AV + last-mile logistics (Great Wall spinout)
-   **Wanxiang Electronics** — multi-investor round (West Hi-Tech, etc.); graphics transport / SD-GPU / vGAI
-   **Zhizhen Cloud** × Jingxi culture-tourism fund — digital audit / AI mid-platform
-   **Youzhi Chuangxin** — Lihui lead, Huagai follow; brain-inspired SNN / CLAS
-   **ARGOOZ** × iFLYTEK — AR
-   **Moonshot** — $1B Alibaba-led; valuation ~$2.5B (~8× prior); Kimi 200k-char context (then); largest China AI startup check since ChatGPT era as stated
-   **Weiwu Tech** — Lakeside Shannan / Zhiyi / Amoeba / Jingchen — photoreal digital humans (NextHuman)
-   **Jinyu Intelligent** — Series A led by Zhiwang, followed by GSR; AIGC interviewer + LLM engineer training path
-   **Zhixingyun** × Anoky — GPU cloud / >500P managed compute
-   **ZCOOL** × Meitu — full acquisition; MiracleVision design ecosystem
-   **Transn** × Jiadao private capital — AI language services
-   **Baiying** × Baidu & Hubei industrial finance — AI digital workforce
-   **Weiding / Medalsoft** — 100% acquired by SoftwareOne
-   **Qiaoyi Zhizao** — industrial defect detection
-   **Turing DeepVision** — luxury authentication AI hardware
-   **Bohan Intelligent** — Haier Haichuang funds as new shareholders
-   **Huayin Tech** × TusStar — generative digital human / A/V engine (Mar target for first published works)

## 06 · Named deals (overseas)

-   **Wisedocs** — Information Venture Partners lead; medical-record AI for insurance claims; U.S. HQ in Florida; 3.5× client growth
-   **HireAra** — £450k seed for recruiter AI candidate showcase
-   **Proofcheck** — €500k pre-seed (BackBone lead; Angel Invest, Gernot Singer, Kyle Kosic)
-   **Brix** — Freedom Fund etc. lead, Plug and Play follow; AI cross-border hiring for U.S. firms
-   **Colossyan** — $22M Series A (Lakestar); AI video from script <30 min; 600% growth; Porsche/Vodafone/Paramount
-   **Lambda** — US Innovative Technology Fund, B Capital et al.; 100k+ Lambda Cloud regs; H100 early access
-   **Anthropic** — Qualcomm Ventures, Intuit; valuation reports ~$15B
-   **Altavo** — $5.4M Series A (Sofinnova lead) — silent-speech rehab
-   **Bioptimus** — $35M seed (Sofinnova lead; Bpifrance, Frst, Cathay, Headline, Hummingbird, NJF, Owkin, Top Harvest, Xavier Niel) — biology foundation model
-   **Abridge** — Lightspeed & Redpoint lead — clinical conversation → structured notes
-   **Talus Network** — $3M first round (Polychain lead) — MoveVM on-chain AI agents
-   **DeepX** — targeting ₩120B (~$90M); partial from Skylake, Timefolio — AI chips; Hyundai-Kia / Posco DX partners
-   **Genmo** — ≥$30M from NEA (The Information) — text→image/animation/4s video
-   **Mistral AI** × Microsoft minority stake; Mistral Large on Azure; Dec 2023 valuation €2B
-   **Glean** — $100M Series C (Sequoia lead per CN; Lightspeed/KP also cited); $1B valuation — workplace search
-   **NLX** — $12M Series A — conversational AI self-serve
-   **Inkitt** — $37M (Khosla lead; NEA, KP); $400M valuation
-   **FlowGPT** — $10M pre-A (Goodwater)
-   **PhotoRoom** — $43M strategic (Balderton lead; YC, Aglaé)
-   **Collov** — $10M Series A (GoldenHome lead) — AI interior design + commerce
-   **Ideogram AI** — ~$80M Series A expected (a16z lead; Index/SVA, Redpoint cited)

## 07 · Report statement

Unique Research is Unique Capital’s new-business innovation research arm — China & go-global enterprise services, new marketing/retail/experience, and tech × traditional industries. Data for research reference only; no legal liability for accuracy or investment outcomes. Cite Unique Research when republishing.

_14 CN images/charts (financing boards, country maps, secondary-market); attach on ingest. Do not invent table rows._

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