China AI funding frenzy: DeepSeek state-backed round, Moonshot $30B valuation, embodied AI and robotics surge
Key Questions
What landmark funding did DeepSeek secure?
DeepSeek raised $7.4B from Tencent and CATL at a $52-59B valuation in an unusual structure where the founder contributed $2.5B personally.
What valuation is Moonshot AI targeting?
Moonshot AI is seeking $2B at a $30B valuation and planning a Hong Kong IPO after earlier rounds, narrowing the performance gap with US peers to 2.7%.
How is embodied AI trending in China?
EngineAI filed confidentially for a HK IPO after a $200M Series B at $1.5B valuation, and Noematrix is raising hundreds of millions, reinforcing China's physical AI push.
DeepSeek $7.4B from Tencent/CATL at $52-59B val, founder $2.96B (unusual structure: founder put in $2.5B own money). Moonshot AI seeking $2B at $30B val, planning HK IPO. $5.6B mid-May across 176 deals. Vast (Tripo AI) ~$200M unicorn. Tianji Intelligence $100M Series B+. Performance gap to US narrows to 2.7%. EngineAI (robotics) filed confidentially for HK IPO after $200M Series B at $1.5B val. New today: Noematrix (embodied AI) raising hundreds of millions, reinforcing physical AI trend. Global funding disparity: US dominates, China $33B in H1, Europe lagging.