Marvel-Tech raises more than RMB500 million across two financing rounds

Shanghai-based Marvel-Tech closed back-to-back B and C financing rounds totaling over RMB500 million.

HongShan led the C round, while C&D Emerging Investment and Qiming Venture Partners co-led the B round.

The company will use the funds to build manufacturing and assembly as well as performance testing centers.

Marvel-Tech aims to reach 1GW of capacity in 2026 for gas turbines used in green-fuel and AI data center power.