Kimi Chatbot Maker Moonshot AI Valued at $20 Billion in Meituan-Led Round

Moonshot AI has raised about $2 billion in its latest funding round, signaling growing investor appetite for Chinese startups rivaling Silicon Valley’s leaders.

Food delivery leader Meituan’s venture arm led the round that boosts Moonshot’s valuation to more than $20 billion, according to a statement from financial advisor HF Capital, which advised some of the backers. In April, Moonshot’s annual recurring revenue topped $200 million, driven by subscriptions to its Kimi chatbot and AI model services, the statement said.