Approaching.AI Raises Over CNY 1.3B Series B to Scale AI Token Factories

Approaching.AI Closes Series B Above CNY 1.3 Billion

Approaching.AI (趋境科技), a Beijing-based AI infrastructure company, has raised a Series B round of more than CNY 1.3 billion. The round was led by LinkX Capital (星连资本).

What Approaching.AI Does

Founded in 2023 out of the Tsinghua University high-performance computing research community, Approaching.AI operates the ATaaS (AI Token as a Service) platform. The company produces high-quality AI tokens at a rate of over a trillion per day by combining inference optimization, heterogeneous scheduling of domestic AI chips, and storage-for-compute KV-cache techniques.

The team also leads or co-develops the open-source KTransformers and Mooncake inference projects, giving it a visible position in the open-source AI infrastructure ecosystem.

A Rapid Sequence of Rounds

In 2026, Approaching.AI closed several rounds in quick succession, including a July Series A and this October Series B of over CNY 1.3 billion. The company is scaling regional AI token factories with state and industry partners.

Investor Syndicate

The Series B drew a broad syndicate of investors:

• LinkX Capital (星连资本) (lead)
• Shangshi Capital
• SenseTime
• Zhuhai Technology Industry Group
• Yunchuang Capital
• 网宿科技 (Wangsu Science & Technology)
• Zhongguancun Science City Co. (中关村科学城公司)
• ICBC Financial Asset Investment (工银投资)
• Zhecai Innovation (浙财创新)
• Xiaoshan Capital (萧山资本)
• Qianjiang Century City (钱江世纪城)
• Hunan Gaoxin Zongheng (湖南高新纵横)
• Jiantou Huake (建投华科)
• Shenwan Innovation Investment (申万创新投)
• CITIC Juxin (中信聚信)
• Gansu Shuzhi (甘肃树帜)
• Chang Jinkong (常金控)
• Yuanzhi Weilai (元智未来)
• Qingzheng Xingzhu (清证星竹)
• Xiaoka Capital (小咖资本)

The mix of financial investors, corporate backers such as SenseTime and Wangsu Science & Technology, and state-linked entities reflects the strategic importance of domestic AI infrastructure in China.

Why It Matters for Acquisition Watchers

Approaching.AI's positioning spans several layers of the AI stack: inference optimization, domestic chip scheduling, KV-cache infrastructure, and open-source projects with developer mindshare. Its ATaaS model turns token production into a service, and its regional token factories tie its growth to state and industry partnerships.

For strategic acquirers in cloud infrastructure, AI compute, or semiconductor ecosystems, the company's combination of open-source leadership and large-scale token production capacity makes it a notable player to track.

Round Summary

• Company: Approaching.AI (趋境科技)
• Round: Series B
• Amount: CNY 1,300,000,000+
• Lead investor: LinkX Capital (星连资本)
• Sector: AI infrastructure / AI Token as a Service
• Headquarters: Beijing
• Founded: 2023