On January 10, Lanjing News reported that Xinyan Yima, an AI coding startup founded by Ming Chaoping, former product lead of overseas product Noisee at Moonshot AI, has completed two funding rounds, bringing its valuation to $80 million. Major investors include top-tier funds such as 5Y Capital, Gaorong Capital, ZhenFund, Hillhouse Investment, and IDG Capital.
The first funding round saw participation from Gaorong Capital, FunPlus (a gaming company), 5Y Capital, and ZhenFund. The startup’s fundraising efforts are primarily engaging Moonshot AI’s shareholders, with limited discussions with external investors.
According to publicly available recruitment information, Xinyan Yima’s products are focused on overseas markets.
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An investor revealed that the resurgence of interest in AI coding by late 2024 was driven by significant advancements in foundational AI models. OpenAI’s o1 model, launched in September 2024, demonstrated exceptional capabilities in handling complex programming logic, algorithms, and code structures, bolstering developer trust and adoption of AI coding tools.
The investor added, “In the past, AI coding applications struggled due to insufficient foundational model capabilities. However, 2025 is set to witness a surge in domestic investment in this field.”
Beyond Xinyan Yima, several other Chinese startups are active in AI coding. aiXcoder, founded in 2018 by Professor Li Ge of Peking University’s Computer Science Department, raised funds at a valuation of CNY1 billion. AIGCode, established in January 2024 by Su Wen, a former investor at Hua Chuang Capital, has also secured two funding rounds.
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