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DeepSeek valuation rises to about CNY 351 billion after financing

DeepSeek valuation rises to about CNY 351 billion after financing

Filings from Anhui Korrun and Jiuan Medical provide rare pricing evidence for DeepSeek’s first external fundraising, which Reuters said raised about 50 billion yuan and may be followed by another round and a STAR Market listing.

Fact Check
Three independent Chinese financial media outlets (PANews citing Cailian Press, Odaily citing Shanghai Securities News, and BlockBeats) all report the same figure — DeepSeek's post-financing valuation of about CNY 3510亿元 (equal to 351 billion yuan) — all tracing to the July 16, 2026 corporate disclosure by listed company 开润股份 (Kairun Co./'KaiRun'). All sources also confirm the ancillary claims: a second funding round has begun and a year-end STAR Market (科创板) listing remains undecided. Independent search results corroborate the ~CNY 3510亿 (~US$45 billion) valuation associated with DeepSeek's funding. The convergence of a primary corporate disclosure with multiple media reports makes the claim highly likely true.
    Reference: 123
Summary

DeepSeek’s implied valuation stands at about 350.88 billion yuan after fund investments disclosed by Anhui Korrun and Jiuan Medical, offering rare public evidence on the Chinese AI startup’s first external fundraising. Reuters previously reported the Hangzhou-based company was set to raise about 50 billion yuan from investors including Tencent and CATL at a post-investment valuation of 350 billion yuan to 400 billion yuan; the newer report says the round has raised more than $7.4 billion, or roughly 50 billion yuan, with Tencent contributing about 10 billion yuan, CATL about 5 billion yuan, and founder Liang Wenfeng about 20 billion yuan. The fundraising was reportedly structured through a limited partnership with a five-year lock-up period and limited voting rights. DeepSeek is also reportedly discussing a follow-on round and preparing for a potential Shanghai STAR Market initial public offering.

Terms & Concepts
  • implied valuation: A company valuation inferred from the price paid for a stake in a transaction.
  • STAR Market: Shanghai’s tech-focused stock exchange board for science and technology companies.
  • lock-up period: A set period during which investors cannot sell their holdings.