(China, 15th) Chinese AI startup Moonshot is seeking to raise up to $1 billion (4.7 billion RMB) in an extended funding round. The company, which developed the "Kimi" chatbot, would reach a valuation of about $18 billion—more than four times its valuation three months ago—demonstrating investors' growing interest in Chinese AI firms catching up with Silicon Valley giants.
Bloomberg reported on Saturday (March 14), citing sources, that Moonshot has launched discussions for its latest funding round. Earlier this year, the company raised over $700 million, at which time its valuation reached $10 billion.
According to sources, compared to the $5 billion funding round at the end of last year, when the valuation was $4.3 billion, the current valuation has seen a significant increase.
It is still unclear who is participating in this latest round of fundraising. According to a Bloomberg News report last month, at the $10 billion valuation level, Alibaba, Tencent Holdings, and 5Y Capital—supporters of Moonshot—have increased their investments.
A spokesperson for Moonshot did not respond to requests for comment.
According to sources, compared to the $5 billion funding round at the end of last year, when the valuation was $4.3 billion, the current valuation has seen a significant increase.
It is still unclear who is participating in this latest round of fundraising. According to a Bloomberg News report last month, at the $10 billion valuation level, Alibaba, Tencent Holdings, and 5Y Capital—supporters of Moonshot—have increased their investments.
A spokesperson for Moonshot did not respond to requests for comment.