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Dark Side of the Moon Completes $500 Million Series C Financing, Led by IDG
Summary: According to reports, the Dark Side of the Moon (Kimi) recently completed a $500 million Series C financing round, with IDG leading with $150 million. Existing shareholders such as Alibaba, Tencent, and Wang Huiwen also subscribed for additional shares, valuing the company at $4.3 billion post-investment. It is reported that Wang Huiwen has already invested ...
According to reports, the Dark Side of the Moon (Kimi) recently completed a $500 million Series C financing round, with IDG leading with $150 million. Existing shareholders such as Alibaba, Tencent, and Wang Huiwen also subscribed for additional shares, valuing the company at $4.3 billion post-investment. It is reported that Wang Huiwen has already invested $70 million in the Dark Side of the Moon. A source close to the company stated that the enthusiasm from primary market investors exceeded expectations.
Dark Side of the Moon's founder and CEO, Yang Zhilin, announced in an internal memo that the company has over 10 billion RMB in cash reserves. This amount is comparable to the post-IPO cash reserves of Zhipu and MiniMax. As of June 2025, Zhipu had 25.5 billion RMB in cash reserves, with an expected IPO fundraising of around 3.8 billion RMB. As of September 2025, MiniMax had 73.5 billion RMB in cash reserves, with an expected IPO fundraising of 3.4 to 3.8 billion RMB. Sources suggest that this means the Dark Side of the Moon may not need to rush for an IPO.
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Link: Dark Side of the Moon Completes $500 Million Series C Financing, Led by IDG [Copy]
