China Tech Start-Ups Race to Capitalize on DeepSeek Fever

Chinese technology start-ups are racing for fresh fund raising to capitalize on the DeepSeek-induced fervor over artificial intelligence (AI), as well as President Xi Jinping's recent show of support to the country's private enterprises.

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SHANGHAI/HONG KONG -

AI-powered optics start-up Rid Vision, brain-computer interface company AI Care Medical and robot-maker Shanghai Qingbao Engine Robotics are among Chinese tech start-ups seeking fresh onshore financing, venture capitalist Andrew Qian said.

"Many people are knocking at the doors of these AI companies, half discussing business cooperation, the other half talking about investment," said Mr Qian, the chief executive officer of New Access Capital, which has invested in the three firms.

"You can see from the DeepSeek case, that a batch of Chinese innovators with disruptive technologies is emerging... Previously, Chinese start-ups were nearly all 'me too'," Mr Qian said, referring to copycats.

The flurry of roadshows and deal announcements by AI-related businesses - including chipmakers, cloud service providers and AI apps - has breathed new life into the country's moribund venture capital sector.