Moonshot AI is accelerating its fundraising pace, with its valuation soaring from $4.3 billion to a target of $30 billion within six months.
According to the latest media reports, Moonshot AI is initiating a new funding round, aiming to raise up to $2 billion, which would value the startup at $30 billion. Informed sources reveal the company has begun preliminary discussions with potential investors, seeking over $1 billion in funding.
The timing is particularly notable—this new funding effort is launching even as the previous round, led by Meituan with a post-money valuation of $20 billion, is still in its final stages and has not been formally closed. Sources indicate that the details of the new round could still change, and the individuals spoke on condition of anonymity due to the private nature of the information. A spokesperson for Moonshot AI did not respond to requests for comment.
If this round is successfully completed, Moonshot AI's valuation would represent an approximately sevenfold increase from around $4.3 billion last December. It would surpass the valuation of its Hong Kong-listed competitor MiniMax (around $20 billion), though it would still trail the approximately $80 billion valuation of Zhipu AI and the roughly $50 billion valuation sought by DeepSeek in its first funding round.
Revenue Provides the Foundation: ARR Doubles in Two Months
Supporting this series of fundraisings is the rapid growth in Moonshot AI's revenue.
According to Bloomberg, the company's annual recurring revenue (ARR) surpassed $200 million in April of this year. As previously reported, Wang Xinyu, a partner at Meituan Longzhu, stated that ARR had just exceeded $100 million in early March, meaning it doubled within two months. Both paid subscriptions and API calls are accelerating.
The direct catalyst for this growth was the launch of Kimi Claw in January—a product powered by the K2.5 model that supports one-click deployment of cloud-based AI agents, making Moonshot AI one of the first domestic companies to commercialize "AI Agents." According to data from the global payment platform Stripe, revenue for Kimi in the nearly 20 days since late January has already exceeded its total for all of 2025. In January, the number of paid subscription user orders increased by over 8000% month-on-month, followed by another increase of over 120% in February, placing it among the top ten on Stripe's global list.
Moonshot AI's Funding Process is Concentrated and Intense
In November of last year, the company completed a funding round of approximately $500 million, valuing it at around $4.3 billion.
Between January and February of this year, the company successively completed three funding rounds of $500 million, $700 million, and $700 million respectively. Its valuation gradually increased from $10 billion to approximately $18 billion. Existing shareholders including Alibaba, Tencent, and 5Y Capital participated in the follow-on investment at the $10 billion valuation stage.
In May of this year, Moonshot AI is set to complete another new funding round of approximately $2 billion, with a post-money valuation exceeding $20 billion.
If the current $2 billion funding round is completed, Moonshot AI's post-money valuation is expected to surpass $30 billion.
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