Zhipu Raises $140 Million in Latest Funding Round
Chinese artificial intelligence startup Zhipu has raised more than 1 billion yuan (approximately $140 million) in a recent financing round. This significant investment, led by firms backed by local government entities, signals the increasing interest in domestic AI development, particularly in the wake of DeepSeek’s growing influence in the market.
Participants in this latest funding round included Hangzhou Municipal Construction Investment Group Co. and Shangcheng Capital. Both entities are controlled by the government of Hangzhou, the city where DeepSeek is also based. Notably, existing investors Alibaba Group Holding Ltd. and Tencent Holdings Ltd. also participated in this round of funding.
Zhipu, which was last valued at around $3 billion during a funding round in May 2024, announced details of the financing and its investors in a statement released via WeChat. The company did not provide any further specifics about the financing.
