About Spinel Capital
Spinel Capital is a venture capital firm founded in 2014. It is primarily based out of Shanghai, China. As of Jan 2026, Spinel Capital is an active investor, having invested in 9 companies, with 1 new investment in the last 12 months. It primarily invests in Series A round in China based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to High Tech and Food and Agriculture Tech. Most recently it participated in the $***** Series A round of MiQro Era A lot of funds co-invest with Spinel Capital, with names like GRIP Capital sharing a substantial percentage of its portfolio. Spinel Capital has team of 2 people including 1 partners.Spinel Capital's List of Top Investments
Spinel Capital has a portfolio of 9 companies. Their most notable investments are in Nolibox and DIGICARBON.Their portfolio spans across and China. They have invested in Enterprise Applications, High Tech, Food and Agriculture Tech and 3 other sectors, across stages such as Series A, Seed stages. Here is the list of top investments by Spinel Capital:1. DJI
Manufacturer of camera drones handheld stabilizers and intelligent agricultural equipment. Products include aerial photography platforms, gimbal systems for video production, and automated machinery for crop management. The business provides hardware for transportation, delivery, and professional filmmaking. Support services include maintenance programs and technical assistance for hardware operation.
Key facts about DJI
2. Nolibox
AI powered logo design software. It leverages AI algorithms, and design models to create logos in real time. The platform generates logo ideas to users in real time to customize the personal and brand images. It conducts research on design quantification methods, design knowledge graph, and more.
Key facts about Nolibox
- Founded Year: 2020
- Location: Haidian (China)
- Stage: Series A
- Employee Count: 13 as on Jul 31, 2026
- Investors: Hillhouse, Chuxin Capital and 2 Others
- Latest Funding Round: Series A, Jan 10, 2024, $*****
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3. Mandala
Jiangsu Mandala Software provides a clinic management platform for healthcare organizations. The company offers a software platform to manage clinical information via electronic medical records. The platform helps the hospitals to maintain their patient's clinical data, medical documentation solutions, online prescription solutions, and more. They also offer Hospital information integration platform which helps to optimize their clinical decisions, remote monitoring solutions, staff management solutions, administrative workflow, and more.
Key facts about Mandala
- Founded Year: 2004
- Location: Wuxi (China)
- Stage: Funding Raised
- Employee Count: 55 as on Jul 31, 2026
- Investors: PreIPO Capital, Detong Capital and 2 Others
4. MiQro Era
Developer of quantum computing technologies for solving complex problems in the field of molecular electronic structure.
Key facts about MiQro Era
- Founded Year: 2022
- Location: Hefei (China)
- Stage: Series A
- Total Funding till date: $14.4M
- Investors: Shanghai Rongyi Investment Management Partnership, Hefei High-tech Venture Capital Management Partnership and 2 Others
- Latest Funding Round: Series A, Jan 23, 2026, $*****
5. LogoLuck
AI based logo design platform for businesses. It offers various features to help users create custom logos for different purposes such as birthday wishes, valentines day, restaurant signs, coffee shops, novel covers, and more. It uses artificial intelligence to generate logos. It enables users to customize logos by choosing from various fonts, colors, and design elements.
Key facts about LogoLuck
- Founded Year: 2017
- Location: Haidian (China)
- Stage: Series A
- Investors: Spinel Capital and 1 Other
- Latest Funding Round: Series A, Jan 10, 2024, $*****
Spinel Capital's Year-on-Year Investment Trends
Spinel Capital has invested in 9 companies over the last 3 years, with an average of 1 new investment annually in the last 3 years. As of Jan 2026, it has made 1 investment in this year. Its most recent first time investment was in MiQro Era.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 1 | 0 | 1 |
2025 | 0 | 0 | 0 |
2024 | 2 | 0 | 2 |
2023 | 1 | 0 | 1 |
Spinel Capital's Investments by Stage
Spinel Capital has made 3 investments in Series A stage with an average round size of $14.4M and 1 investment in Seed stage.Stage of entry | No. of Investments |
|---|---|
Series A | 3 |
Seed | 1 |
Note: We have considered here, only first round of investments
Spinel Capital's Investments by Sector
Spinel Capital has a diverse portfolio, with companies operating in the Enterprise Applications, Environment Tech, High Tech and Sustainability Tech. Notably, it has invested in 9 Tech companies, 8 Enterprise (B2B) companies, 6 Software companies and at least 2 companies focusing on AI-Native.Sector | No. of Investments |
|---|---|
Enterprise Applications | 2 |
Environment Tech | 1 |
High Tech | 1 |
Sustainability Tech | 1 |
Note: We have considered here, only first round of investments
Spinel Capital's Investments by Geography
Spinel Capital has made most investments in China (4).Spinel Capital's recent investments
Spinel Capital has made 1 investments in 2026 so far - MiQro Era.Here are the most recent investments by Spinel Capital:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Jan 23, 2026 | China | Series A | 8982 | ||
Jan 10, 2024 | China | Series A | 8272 | ||
Jan 10, 2024 | China | Series A | 1475 | ||
Oct 13, 2023 | China | Seed | 2620 | - |
Team profile of Spinel Capital
Spinel Capital has a team of 2 members located in China. Spinel Capital's team does not sit on the board of any company as of now.Co-investors of Spinel Capital
Over the past 3 years, 7 investors have co-invested in Spinel Capital's portfolio companies. This includes only funds.
- Invested before Spinel Capital: Hillhouse, Chuxin Capital and 2 others have invested in rounds before Spinel Capital. There is 1 company where Hillhouse has invested before Spinel Capital and 1 company where Chuxin Capital has invested before Spinel Capital.
- Top Co-investors of Spinel Capital: 3 investors entered a company along with Spinel Capital. These include investors like GRIP Capital (1 company).
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