DeepSeek Raises $15 Billion Ahead of Shanghai IPO
China-based AI startup DeepSeek has raised $15 billion in its second private round, accelerating its plans for an initial public offering in early 2027.
Chinese AI startup DeepSeek has secured $15 billion in its second private funding round, accelerating preparations for an initial public offering planned for the Shanghai Stock Exchange in early 2027 and potentially aiming to reach public markets before OpenAI.
Driven by strong investor demand, the funding amount reportedly reached nearly double the original target, with the company's valuation estimated at approximately $74 billion before the round closed. In statements made to investors in September, founder Liang Wenfeng noted that the company's annualized revenue run rate had reached $1 billion.
The funding round saw participation from Tencent and battery manufacturer Contemporary Amperex Technology, as well as existing investors Monolith Management and Shixiang. New investors included semiconductor-focused private equity firm Stony Creek Capital, Lenovo-backed Legend Capital, and automaker Geely.
DeepSeek has engaged state-backed investment bank Citic Securities to advise on the IPO process and appointed former venture capitalist Yan Wentao as Chief Financial Officer (CFO) in September.
Sources
- pymnts.com · Link