---
title: DeepSeek raises 100 billion yuan in second funding round
url: https://www.dataloco.com/en/deepseek-raises-100-billion-yuan-in-second-funding-round
published: 2026-10-15T18:21:21+00:00
language: en
section: AI
source: https://www.ithome.com/1/012/172.htm
organizations: DeepSeek, CPE, IDG
publisher: Dataloco
---

# DeepSeek raises 100 billion yuan in second funding round

DeepSeek is reportedly close to completing a second round of external financing, with the total amount increasing from an initial plan of 50 billion yuan to approximately 100 billion yuan. This expansion of the funding target occurred in less than half a month, effectively doubling the previously intended capital raise. The company's pre-money valuation remains stable at approximately 500 billion yuan, indicating that the increased capital injection did not result in a higher overall company valuation.

The new round of investment involves both existing shareholders and new participants, with the proposed investment amounts from each group expected to be roughly equal. New investors entering the transaction include Shixi Capital, SMSC, CPE Yuanfeng, Legend Capital, and Geely. These entities are characterized by their industrial backgrounds, focusing on areas such as integrated circuit design, semiconductor materials, and automotive manufacturing. Existing shareholders participating in this round include CATL, Tencent, IDG Capital, Lisi Capital, and Shixiang Capital. CATL is notably increasing its investment, with a proposed additional contribution of approximately 10 billion yuan, compared to its initial investment of about 5 billion yuan in the first round.

DeepSeek's first external funding round began in April 2026 and concluded at the end of June, raising a total of approximately 51 billion yuan. This initial round established a post-money valuation close to 400 billion yuan, marking it as the largest single financing round in the domestic artificial intelligence large model industry to date. The founder, Liang Wenfeng, was the largest individual contributor in the first round, investing approximately 20 billion yuan. Other significant contributors in the initial round included Tencent, CATL, NetEase, JD.com, Lisi Capital, and IDG Capital, each investing around 3 billion yuan, while Zhengxingu Investment and Shixiang Technology each contributed approximately 1.5 billion yuan.

In parallel with the funding process, DeepSeek is accelerating its preparations for an initial public offering. Since late August 2026, the company has been in contact with multiple investment banks to prepare for a listing on the STAR Market. CITIC Securities has been hired to assist with this process, with plans to submit the application by the end of 2026 and aim for a listing in 2027. Sponsors are currently reviewing the backgrounds of investors, requiring some specialized funds to be adjusted to blind pool filings to ensure compliance with shareholder count regulations for the IPO. Additionally, Yan Wentao, a former partner at Hillhouse Venture Capital, joined DeepSeek as Chief Financial Officer in late September 2026.

DeepSeek was founded in 2023 by Zhejiang Jiuzhang Asset Management Co., Ltd., a quantitative hedge fund formerly known as Hangzhou Huanfang Technology Co., Ltd. In September 2026, the company released its latest model, DeepSeek-V4.1-Flash. Reports also indicate that the company's annualized revenue has exceeded 1 billion US dollars.