Moonshot AI, the Beijing-based company behind the Kimi chatbot, raises about $2 billion in a new funding round and lifts its valuation to more than $20 billion, according to multiple reports. The round is described as being led by Meituan, with China Mobile also participating. The Next Web reports that CITIC Private Equity Funds is among the participants. Bloomberg similarly characterizes the fundraising as a sign of investor appetite for Chinese AI startups viewed as potential rivals to major Silicon Valley players.
The reports also note Moonshot’s rapid fundraising pace. The Next Web says the valuation is roughly seven times the level it held about 16 months earlier. The South China Morning Post adds that Moonshot raised a total of about $3.9 billion over the past six months, citing figures provided by HF Capital, the deal’s financial adviser. The South China Morning Post also links the company’s growth to its planning for possible listings, mentioning that Moonshot navigates Beijing’s new IPO rules for firms registered overseas.
Overall, the sources agree on the key terms: approximately $2 billion raised, a valuation above $20 billion, and leadership by Meituan with other strategic investors involved.
