Kimi completes $200 million funding round, valuation exceeds $20 billion

ChainCatcher reports that Kimi (Moonshot AI) is set to complete a new round of funding worth $2 billion, pushing its post-money valuation beyond $20 billion. This round is led by Meituan Dragonfly, with participation from China Mobile, CPE (China CITIC Capital), and others—Dragonfly alone invested over $200 million. In January and February of this year, Kimi rapidly completed three consecutive funding rounds, raising $500 million, $700 million, and $700 million respectively. Including this latest round, Kimi has raised over $3.9 billion in less than six months, with its latest valuation more than four times its $4.3 billion valuation in November last year. To date, Kimi’s total funding has exceeded RMB 37.6 billion, making it the AI large model startup with the highest cumulative fundraising to date. Including IPO proceeds, MiniMax has raised approximately RMB 15 billion, and Zhipu AI approximately RMB 13 billion. As of today’s midday market close, MiniMax’s market capitalization stands at approximately RMB 210 billion, while Zhipu AI’s is around RMB 347 billion.