Shanshi Technology Secures Tens of Millions in Pre-A Funding to Advance Industrialization of Photochemistry Solutions

VCBeat has learned that, recently,Jiangsu Shanshi Intelligent Technology Co., Ltd. (hereinafter referred to as "Shanshi Technology")Completed tens of millions in Pre-A round financing, this round of financing was led byRelay FundLead Investor,Changshu Jingkai Guofa FundCo-investment. Previously, Shanshi Technology completed its angel round of financing in June last year, with investors including VenturesLab and the Changshu Changchuang Fund.

Shanshi Technology is dedicated to providing the world with leading integrated solutions combining photochemistry, chemistry, and industrialization. The company has systematically deployed relevant R&D, pilot-scale, and production equipment, while assisting customers in refining their process package services. On one hand, it upgrades and optimizes traditional mercury lamp systems to LED-based solutions; on the other, it drives the transformative replacement of thermal reaction technologies with photochemical alternatives. Its applications primarily span the chemical, pharmaceutical, agrochemical, fragrance, and materials industries. The reaction types covered include chlorination, bromination, oxidation, isomerization, polymerization, dehalogenation, and coupling, with extensive experience accumulated in multiphase reaction systems such as liquid-liquid, gas-liquid, and gas-liquid-solid configurations.

After years of accumulation, Shanshi Technology has established certain advantages in the process services for deep ultraviolet (DUV) fluidic reaction equipment. In particular, its 100-kilowatt-class DUV precise light control system and characteristic microfluidic solutions tailored for slow reactions have enabled the development of a new equipment process package that is stable, energy-efficient, and safe for the synthesis of steroid drugs such as dydrogesterone.

In addition, Shanshi Technology has incubated a series of industrial-grade solutions for treating wastewater and waste gas in the field of light environments, including natural water purification and dye degradation. In the realm of photopolymerization, the company is also supporting more industrialization projects, with a focus on photodegradation and photopolymerization equipment and process services that require no external additives.

The project has currently received support from the Gusu Leading Talent Program and is actively advancing upgrades for mass production.

Lead Investor in This Round: JieLi FundIt stated: “The photochemical sector in which Shanshi Technology operates is still in its early stages of industry development, with rapidly growing demand for replacing traditional methods. As there is no dominant market leader in China yet, the potential for future growth is substantial. After several years of development, Shanshi has become the first company in China to achieve industrial-scale commercialization, establishing a comprehensive industrialization system spanning chips, devices, and equipment processes. Its technological expertise and first-mover advantage are significant. Led by Dr. Li Yiming, the founding team is dedicated, diligent, and deeply entrenched in the industry, committed to providing breakthrough technical solutions for chemical production and environmental governance.”

Relay Fund was established in 2009 as a venture capital firm dedicated to investing in technology startups. The fund is capitalized by the Ministry of Science and Technology’s Venture Capital Guidance Fund, the CICC Qiyuan National Emerging Industry Venture Capital Guidance Fund, the Shanghai Venture Capital Guidance Fund, the Science and Technology Innovation Investment Fund of Funds, and market-based investors. It focuses primarily on new materials, healthcare, intelligent manufacturing, and related services. Relay Fund currently manages six funds with a total scale exceeding RMB 1.6 billion and has invested in nearly 150 early- to mid-stage technology startups since its inception. Relay Fund serves as a council member of the Shanghai Venture Capital Association and holds key leadership roles, including lead unit of the New Materials Professional Committee under the Ministry of Science and Technology’s Venture Capital Alliance and rotating chairman unit of the Shanghai New Materials Industry Investment Alliance.

As an angel investor in the first round, Relay Fund invested in companies such as Titan Technology (688133), Haoyuan Pharmachem (688131), Uni-Science (301166), and Hongying Intelligence (001266), helping them successfully go public. Over the years, it has repeatedly been recognized by Zero2IPO, China Venture, and the China Fund of Funds Summit with honors including “Top 10 Chinese Early-Stage Funds by Annual Return,” “Top 30 Best Early-Stage Venture Capital Firms in China,” “Top 10 National-Level Private Equity Funds in the Mass Entrepreneurship and Innovation Category,” and “Top 30 Early-Stage Funds by Best Return at the China Fund of Funds Summit.”

The Changshu Jingkai Guofa Fund is an industrial investment fund established with capital contributions from state-owned enterprises under the Changshu Economic and Technological Development Zone. With a total size of RMB 1 billion, the fund focuses on investment opportunities in the fields of complete vehicles and automotive parts, intelligent equipment, next-generation information technology, life and health, and acoustics. It aims to support regional industrial development and promote industrial clustering. To date, it has completed investments totaling RMB 460 million.