88Z AI, 7 May — Moonshot AI (Kimi) has completed a Series D financing round of approximately $2 billion, pushing its post-money valuation above $20 billion and setting a record for the largest single funding deal in China's large model sector. Led by Meituan Dragonball with participation from China Mobile and others, the company's cumulative funding exceeds $4.4 billion, ranking first among domestic startups. In April, its annual recurring revenue surpassed $200 million, alongside the release of the open-source
At a glance
- Completed approx. $2B Series D with post-money valuation over $20B, setting a record
- Cumulative funding exceeds $4.4B, ranking first domestically; April ARR surpassed $200M
The update
Moonshot AI's Kimi recently completed a new Series D financing round of approximately $2 billion, with its post-money valuation officially surpassing the $20 billion mark. This amount sets a new record for the largest single financing deal in China's large model sector. The round was led by Meituan Dragonball, with participation from institutions such as China Mobile. To date, Moonshot AI's cumulative funding has exceeded $4.4 billion, ranking first among domestic large model startups. On the business front, the company's annual recurring revenue exceeded $200 million in April this year. Meanwhile, Moonshot AI released its open-source flagship model, Kimi K2.6, further expanding its technological influence. This financing not only highlights capital market confidence in leading large model enterprises but also provides ample financial support for subsequent R&D and market expansion.
Sources & editorial note
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