en.Wedoany.com Reported - Chinese AI startup Moonshot has completed a new funding round of approximately $2 billion, valuing the company at $20 billion.
Huafeng Capital, acting as an advisor to some investors, confirmed the investment in a statement. This marks the fourth major funding round for Moonshot this year, as usage of its open-source Kimi chatbot and large language model continues to climb. The round was led by Dragonball, the investment arm of Chinese tech giant Meituan, with participation from Tsinghua Capital, China Mobile, and CPE Yuanfeng.
Although the funding amount does not reach the extremely high levels commonly seen in Western markets over the past year, the investment reflects growing investor interest in Chinese AI startups. Since its inception, Moonshot has maintained strong momentum, driven by the rising popularity of Kimi—whose subscription numbers and API usage have both surged in recent months. The Beijing-based lab has become the highest-funded AI startup in China.
However, this position may face challenges. Recent media reports indicate that competitor DeepSeek is seeking a large-scale funding round at a $50 billion valuation. Prior to this $2 billion injection, Moonshot had completed three funding rounds in 2026, amounting to $500 million, $700 million, and $700 million respectively, with investors including Chinese giants Tencent and Alibaba.
According to Huafeng Capital's statement, Moonshot's valuation has more than quadrupled since November last year, when it stood at approximately $4.9 billion. Meanwhile, the company's annual recurring revenue exceeded $200 million in April. Moonshot's latest model, K2.6, was released earlier this year. According to OpenRouter's global AI model ranking based on token usage, the model currently ranks second, ahead of Anthropic's Claude, Google's Gemini, and xAI's Grok.
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