DeepSeek Restarts Second Funding Round With RMB 50 Billion Target and RMB 500 Billion Valuation
Chinese AI startup DeepSeek has restarted its second funding round, planning to raise RMB 50 billion at a pre-money valuation of about RMB 500 billion, with signing targeted for late August. The round had begun by mid-July but was suspended at the end of July. Some investors have not yet been notified of the restart. DeepSeek completed its first round in June 2026, raising RMB 50 billion at a valuation above RMB 350 billion. The new pre-money valuation is about 43% higher than the first round. If completed, total proceeds from both rounds would exceed RMB 100 billion.
Chinese AI startup DeepSeek has restarted its second funding round, planning to raise RMB 50 billion at a pre-money valuation of about RMB 500 billion, with signing targeted for late August. The second round had already been under way by mid-July but was suddenly suspended at the end of July, when some investors on the backup negotiation list were told that plans to sign financing agreements would be put on hold. At present, some investment institutions that had previously been actively in contact have not yet received word of the restart, and the financing channel remains suspended.
The negotiation list for the second round includes both backup institutions that missed out in the first round and first-round venture capital and industrial investors considering adding to their stakes. DeepSeek launched its first funding round in April 2026 and completed closing in June, raising RMB 50 billion at a valuation exceeding RMB 350 billion, making it the company with the largest first-round fundraising in China's AI large-model sector. The first round attracted more than RMB 100 billion in expressions of investment interest, and ultimately raised RMB 50 billion.
The pre-money valuation for the second round is RMB 500 billion, about 43% higher than the first round. If this round is completed smoothly, DeepSeek's total fundraising across the two rounds will exceed RMB 100 billion.