Chinese Tech Startup & Funding Morning Brief

Chinese Tech Startup & Funding Morning Brief

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Daily roundup of Chinese tech startup news, funding rounds, and venture capital trends — curated every morning.

Chinese Tech Startup & Funding Morning Brief
Chinese Tech Startup & Funding Morning Brief05/22/2026, 08:13:45 AM

China Tech Startup & Funding Brief — May 22, 2026

State capital cements its role as anchor investor in Chinese AI: DeepSeek targets a $7B round at a ~$49B valuation as the National AI Fund moves to lead; Approaching.AI closes a Pre-A on AI Token infra; YuShiKongJian raises RMB 500M for its Starship-style reusable rocket; PixVerse crosses a $1B valuation on RMB 2.5B raised in six months; and Jiangbolang gets exchange approval for a RMB 3.7B AI memory chip secondary offering.

Chinese Tech Startup & Funding Morning Brief
Chinese Tech Startup & Funding Morning Brief05/21/2026, 08:05:56 AM

China Tech Startup & Funding Brief — May 21, 2026

Moonshot AI (Kimi) announces it will unwind its offshore VIE structure for a Hong Kong IPO at a $20B valuation; Step AI nears a $2.5B close with device giants and sovereign capital; DeepSeek inches toward its first-ever external round at a ~$45B target valuation; Weta Dynamics closes China's largest consumer robotics Pre-A at ~RMB 500M; and Alibaba T-Head debuts its Zhen Wu M890 training-inference AI chip.

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