"Moonshot AI, the Beijing-based developer of the Kimi chatbot, is closing a $2bn funding round at a post-money valuation above $20bn, Bloomberg reported on Wednesday. Meituan's Dragon Ball investment arm is leading the round, with China Mobile, CITIC Private Equity Funds, and other institutions participating. Meituan Dragon Ball alone is contributing more than $200m."
"The new $20bn level is roughly seven times the December 2024 mark, a faster trajectory than any other Chinese AI lab has produced this cycle. Moonshot was founded in March 2023 by Yang Zhilin, Zhou Xinyu, and Wu Yuxin, all former Tsinghua University classmates. Yang previously worked at Carnegie Mellon and Meta's FAIR research lab and holds a doctorate in machine learning."
"Kimi's annualised recurring revenue has risen from $100m at the start of March 2026 to over $200m by the end of April, a doubling in two months that the new round's pricing was reportedly attributed to. The Kimi product line, the company's consumer-facing chatbot, has been the principal commercial vehicle for Moonshot's underlying foundation models."
Moonshot AI, developer of the Kimi chatbot, secured a $2bn funding round at a post-money valuation exceeding $20bn, led by Meituan's Dragon Ball investment arm with participation from China Mobile and CITIC Private Equity Funds. This represents the company's third major valuation increase in under two years, rising from $2.5bn in February 2024 to $3bn in December 2024, then to over $20bn. The valuation jump of roughly seven times in four months reflects exceptional growth trajectory compared to other Chinese AI labs. Kimi's annualized recurring revenue doubled from $100m to over $200m between March and April 2026, driving the round's valuation. Founded in March 2023 by three Tsinghua University classmates, Moonshot AI leverages foundation models through its consumer-facing Kimi chatbot product line.
Read at TNW | Investors-Funding
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