# Startup funding in China, September 2026: VAST's $446M Series B leads 9 rounds > We read 9 equity rounds raised in China and announced in September 2026, raising $1.2B between them: 3% of the rounds we read worldwide that month and 3% of... Source: https://millionrounds.com/news/monthly/2026-09/china (Millionrounds; every figure on the page links to its filing or article) Equity rounds **9** raised in China, 7 with an amount Raised **$1.2B** across those rounds Lead named **89%** of rounds say who led Share of the world **3%** of rounds; 3% of the money ## The biggest rounds - [1 V **VAST** Series B · led by Matrix Partners **$446M**](https://millionrounds.com/company/vast) - [2 D **D-Robotics** Series C · led by Mirae Asset **$400M**](https://millionrounds.com/company/d-robotics) - [3 **SemiDrive** Series C **$150M**](https://millionrounds.com/company/semidrive) - [4 P **PHYMI** Seed · led by IDG Capital **$100M**](https://millionrounds.com/company/phymi) - [5 K **Kinetix AI** Seed **$75M**](https://millionrounds.com/company/kinetix-ai) - [6 D **DYU** Pre-Series B · led by Tongxin Capital **$15M**](https://millionrounds.com/company/dyu) - [7 E **Eagle Cloud** Series B+ · led by Northern Light Venture Capital, MTR Lab **$15M**](https://millionrounds.com/company/eagle-cloud) ## Day by day Equity rounds raised in China and announced each day of September. The busiest day was 10 September, with 2. 1 September 30 September ## By stage, against the year Each stage's median this month beside its twelve-month median: China's own where we hold enough rounds for a benchmark, otherwise the worldwide one. [Seed](https://millionrounds.com/benchmarks/seed) *2* **$88M** this month **$5.5M** 12 months, worldwide [Series B](https://millionrounds.com/benchmarks/series-b) *2* **$446M** this month **$50M** 12 months, worldwide [Series C](https://millionrounds.com/benchmarks/series-c) *3* **$275M** this month **$100M** 12 months, worldwide ## In what - [AI](https://millionrounds.com/news/monthly/2026-09/sector/ai) **8** - [Robotics](https://millionrounds.com/news/monthly/2026-09/sector/robotics) **4** - [Hardware & Electronics](https://millionrounds.com/news/monthly/2026-09/sector/hardware) **3** - [Automotive & EVs](https://millionrounds.com/news/monthly/2026-09/sector/automotive) **2** - [Semiconductors](https://millionrounds.com/news/monthly/2026-09/sector/semiconductors) **2** - [Enterprise Software](https://millionrounds.com/news/monthly/2026-09/sector/enterprise-software) **1** - [Biotech](https://millionrounds.com/news/monthly/2026-09/sector/biotech) **1** - [Cybersecurity](https://millionrounds.com/news/monthly/2026-09/sector/cybersecurity) **1** AI was the busiest sector in China. ## Against the world - Rounds, China **9** - Rounds, worldwide **357** - Raised, China **$1.2B** - Raised, worldwide **$39B** [The whole of September 2026](https://millionrounds.com/news/monthly/2026-09) ## Other countries in September [116 rounds **United States** *→*](https://millionrounds.com/news/monthly/2026-09/united-states)[46 rounds **United Kingdom** *→*](https://millionrounds.com/news/monthly/2026-09/united-kingdom)[25 rounds **India** *→*](https://millionrounds.com/news/monthly/2026-09/india)[21 rounds **Canada** *→*](https://millionrounds.com/news/monthly/2026-09/canada)[13 rounds **Germany** *→*](https://millionrounds.com/news/monthly/2026-09/germany)[11 rounds **Australia** *→*](https://millionrounds.com/news/monthly/2026-09/australia)[9 rounds **France** *→*](https://millionrounds.com/news/monthly/2026-09/france) **How this roundup is made** It is written from the rounds we read that month in named articles and filings, counted by the country the company raised in. Only equity rounds with a stage count; debt, grants and public companies' raises do not. Each month the eight countries with the most equity rounds get their own roundup. We read more sources every month, so compare medians, not totals. [How we read rounds](https://millionrounds.com/methodology) · [Report a mistake](https://millionrounds.com/corrections)