The round was led by Chinese food delivery company Meituan’s VC arm, Long-Z Investments, a spokesperson told TechCrunch. Also participating were Tsinghua Capital, China Mobile, and CPE Yuanfeng, according to the post.

The company raised $3.9 billion over the past six months, according to Huafeng Capital. Moonshot was valued at $4.3 billion at the end of 2025, per reports, and by early 2026, that figure had more than doubled to $10 billion following a $700 million raise.

Moonshot AI was founded in 2023 by Yang Zhilin, a former Meta AI and Google Brain researcher, and quickly became one of China’s most popular AI labs after its open-weight Kimi K2.5 large language model took the coding world by storm earlier this year, nearly topping benchmarks and posting performance figures close to that of Open AI and Anthropic’s models at the time.

The company’s latest model, Kimi K2.6, is currently the second-most used LLM on distribution platform OpenRouter.