Photo/website of Moonshot AI

Moonshot AI, the company behind Kimi, is reportedly closing a new $2 billion funding round that would push its valuation past $20 billion, marking a more than fourfold jump from about $4.3 billion in November last year.

The round is led by Meituan DragonBall, with participation from China Mobile, CPE and others. Meituan DragonBall alone is said to have invested over $200 million.

Including this latest deal, the company has raised over $3.9 billion in less than six months, following three rapid rounds in January and February totaling $1.9 billion.