DeepSeek reportedly raises CNY105.5bn in second private financing
Tencent and CATL are among the largest backers of the Chinese AI developer’s second external funding round.
DeepSeek has completed its second private financing, with later reporting putting the round at approximately CNY105.5 billion. An October 30 report by IT Home, citing The Information, updated the amount after initial completion reports on October 22.
Tencent and CATL returned as major investors, while IDG Capital also participated. The later report valued DeepSeek at about CNY615.5 billion after the financing and described a group of nearly 30 investors spanning technology, manufacturing and financial services.
The capital expands the funding base of the Hangzhou AI developer behind language and reasoning models, a consumer assistant and developer APIs. Its first external round took place in June; the October financing is a separate transaction.