SiliconFlow raises $109.5M Series B

Caixin reported the Series B at more than ¥2 billion ($294 million), well above the ¥740 million in the Crunchbase record. The investor list includes Trip.com, SenseTime, Jinko Solar, NIO Capital and China Unicom. Other reports add Kingdee, Bitmain and Giant Network. Caixin says the SiliconCloud platform hosts more than 160 models and processes about 1 trillion tokens a day. It cites over 10,000 enterprise clients and a tenfold rise in revenue over the past year.

The company has kept raising since then. It later announced a B+ second phase and a Series C, which bring cumulative equity funding to nearly ¥2.9 billion. It also applied to the Hong Kong Stock Exchange at the end of June under the Chapter 18C rules for pre-commercial companies. The listing filing shows projected 2025 revenue of ¥55.33 million, a net loss of ¥345 million and a gross margin of negative 24%.

For AI founders, this shows how much capital is going to the layer between model makers and chips. SiliconFlow serves DeepSeek and Qwen models across Nvidia, Ascend, MetaX and Moore Threads hardware. Its negative gross margin suggests that reselling inference is still a subsidized, volume-driven business.