Chinese AI-related Firm Zhipu Says it Has Raised Over $341.8M This Year

By James Dargan · 20 October 2023 · 1 min read

Insider Brief

Beijing Zhipu Huazhang Technology, a Chinese AI-related company, raised over 2.5 billion yuan ($341.82 million) in 2023.
Major Chinese tech companies including Alibaba, Tencent, Meituan, and Xiaomi participated in the funding.
Investment firms Hillhouse and Legend Capital also contributed to the funding round.

PRESS RELEASE — BEIJING, October 20, 2023/(Reuters) — Chinese artificial intelligence-related firm Beijing Zhipu Huazhang Technology said on Friday it has raised over 2.5 billion yuan ($341.82 million) this year.

Investors have included Chinese tech giants Alibaba (9988.HK), Tencent (0700.HK), Meituan (3690.HK), Xiaomi (1810.HK), as well as Hillhouse and Legend Capital, Zhipu said.

($1 = 7.3137 Chinese yuan renminbi)

SOURCE

TopicsAI Alibaba capital markets China funding Hillhouse Legend Capital Meituan Tencent Xiaomi Zhipu

About the author

James Dargan

James Dargan is a writer and researcher at The AI Insider. His focus is on the AI startup ecosystem and he writes articles on the space that have a tone accessible to the average reader.

Chinese AI-related Firm Zhipu Says it Has Raised Over $341.8M This Year

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