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DeepSeek's second round of financing has been scaled up. According to a Huxiu report on October 13, 2026, the round is planned to increase from 50 billion yuan to about 100 billion yuan, with the pre-money valuation still about 500 billion yuan, and new and existing shareholders each planning to invest half. The new investors are mainly industrial capital, including Shixi Capital, SMIC Capital, Geely, and others, while CATL plans to add about 10 billion yuan. The report also mentioned that an LP of a fund said the deal is still changing dynamically, and DeepSeek's public relations department declined to comment on the financing information. The company has hired Yan Wentao, former partner of Hillhouse Venture Capital, as CFO, and outsiders expect an IPO to be advanced as early as early 2027. Currently, there is no subsequent evidence-supported progress on this financing.
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DeepSeek's second round of financing increased to about 100 billion yuan
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Oct 13
Huxiu
DeepSeek's second funding round grows to about 100 billion yuan, pre-money valuation remains 500 billion yuan
DeepSeek's second funding round is planned to increase from 50 billion yuan to about 100 billion yuan, with the pre-money valuation still about 500 billion yuan, and new and old shareholders each planning to invest half. New investors are mainly industrial capital, including Shixi Capital, SMIC Capital, Geely, etc., and CATL plans to add about 10 billion yuan; a fund LP said the deal is still changing dynamically, and DeepSeek's PR department declined to comment on the funding information. The company has hired former Hillhouse Venture Capital partner Yan Wentao as CFO, and outsiders expect an IPO to potentially proceed in early 2027.