The recent fundraising has increased Moonshot's valuation to $3.3 billion. Other investors in the round included Gaorong Capital and existing investor Alibaba. It was previously reported that Moonshot was seeking investments at a pre-money valuation of $3 billion and had been in discussions with Tencent.
Key takeaways:
- Tencent Holdings Ltd. has invested in a $300-plus million funding round for Chinese generative AI startup Moonshot.
- This investment mirrors Tencent's rival Alibaba Group Holding Ltd.'s strategy of supporting multiple companies in the competitive AI sector.
- The funding round has increased Moonshot's valuation to $3.3 billion and attracted other investors such as Gaorong Capital and existing backer Alibaba.
- Moonshot was previously seeking investments at a pre-money valuation of $3 billion and had held discussions with Tencent.