New Funding Round Nears Completion
According to recent reports, Moon's Dark Side is close to finalizing a new funding round, with its pre-investment valuation rising to $4.8 billion. Just weeks ago, the company's valuation stood at $4.3 billion, highlighting strong market confidence in its technological capabilities and future potential.
Prior Funding Milestones
On December 31, 2025, Moon's Dark Side disclosed a $500 million Series C funding round led by IDG with a $150 million commitment. Existing investors, including Alibaba, Tencent, and founder Wang Huwen, significantly oversubscribed.
- IDG led with $150 million
- Alibaba and Tencent increased their stakes
- Post-funding valuation reached $4.3 billion
Robust Cash Reserves
CEO Yang Zhiyin announced in an internal memo that the company holds more than RMB 10 billion in cash reserves, putting it on par with post-IPO competitors like Zhipu and MiniMax.
As of June 2025, Zhipu held RMB 2.55 billion in cash, with an estimated IPO fundraising of RMB 3.8 billion. MiniMax, as of September 2025, had RMB 7.35 billion in cash and planned to raise between RMB 3.4 to 3.8 billion from its IPO.
No Rush for IPO
Insiders suggest that Moon's Dark Side is in no hurry to go public. Its strong financial position allows greater flexibility for long-term strategic development and innovation.