Moon's Dark Side is about to complete a new round of $2 billion in financing, with a post-investment valuation exceeding $20 billion

The Odaily Planet Daily reported exclusively from *LatePost* that Kimi (Moon's Dark Side) is about to complete a new round of $2 billion in financing, with a post-investment valuation surpassing $20 billion. This funding round is led by Meituan Dragon Ball, with participation from China Mobile, CPE (CITIC Private Equity), and others, with Dragon Ball alone contributing over $200 million.

In January and February of this year, Kimi had just completed three rounds of financing in quick succession, 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 quadrupling from approximately $4.3 billion last November.

As of now, Kimi's total cumulative financing has exceeded RMB 37.6 billion, making it the company with the highest cumulative funding among large model startups. Including IPO proceeds, MiniMax has raised approximately RMB 15 billion, and Zhipu about RMB 13 billion. As of the midday trading halt on May 6, MiniMax's market cap was around RMB 210 billion, while Zhipu's stood at approximately RMB 347 billion.