Chip company EVAS Intelligence has completed a new funding round of nearly RMB 2 billion, Caixin reported, with more than 20 investors participating, including Huatai Innovation, Zhongding Capital, SMIC Capital, Tongfu Microelectronics, SINIC Leasing, Hengxu Capital and Shangqi Capital. The deal values the company at close to RMB 15 billion, and follows a roughly RMB 1.5 billion Series B and a strategic investment from China Mobile earlier this year.
Founded in February 2022, EVAS initially targeted autonomous-driving chips and completed the development and mass production of several smart-vehicle edge-computing chips. In August 2025 it announced Epoch, a RISC-V AI computing chip that has since entered scaled production, winning orders from leading system vendors, internet companies, data centers and industry customers; since 2023 its sales revenue has grown by an average of 200 percent per year.
During the World Artificial Intelligence Conference in July 2026, EVAS unveiled a RISC-V AI computing supernode built around the Epoch chip: its self-developed ELink high-speed interconnect delivers 3.2 TB/s of bandwidth per chip, and together with an orthogonal backplane-free architecture and rack-level liquid cooling, the system can scale up to clusters of one hundred thousand cards. Its next-generation cloud computing chip has taped out, with several-fold improvements in compute and interconnect performance over the current generation.
On the policy front, the Ministry of Industry and Information Technology and the National Development and Reform Commission recently issued the 15th Five-Year Plan for the Development of the Electronic Information Manufacturing Industry, which calls for accelerating RISC-V research, development and industrialization, and supports the use of RISC-V chips in artificial intelligence, embedded systems and other fields. As an open instruction-set architecture, RISC-V spent years breaking through in IoT, automotive electronics and industrial applications; with the commercial loop now closing from the edge to the cloud, the path toward a more diverse domestic computing ecosystem is becoming clearer.