Kuaishou's Kling AI closes ~19.8B yuan round, with state AI fund investing 1.4B yuan
创业邦 · wechat · 2026-11-05
Kuaishou announced the closing of Kling AI's capital increase on Oct 30, 2026, with 19.8 billion yuan paid in — below the 20.4B yuan cap after Middle East-backed Blue Five entities failed to complete payment.
The investor roster bridges two eras: Tencent (1.12%) and Baidu (0.28%), both early Kuaishou backers, returned; Kuaishou angel investor Zhang Fei subscribed $15M; DCM-linked investors Rooftop Lu (Atypical Ventures) and others joined, as did Lishi Capital's Cao Xi, who invested in Kuaishou while at Sequoia China.
New money includes the State AI Industry Investment Fund (1.4B yuan, 1.15%), Shanghai Guofang (1.69B yuan, 1.38%, largest external holder), Alibaba Cloud (1.36B yuan, 1.12%), plus Kingdee and chip startup MetaX. The piece argues investors are now betting on model competitiveness, overseas revenue, and whether compute costs can yield sustainable profit.
More from Venture
- Dejan's LLM brand study probes 193k brand mentions for just $391.71 using Gemini — dejanseo · 2026-11-13
- Agentic pricing startup Mondrio AI raises $3.75M round led by Heartcore Capital — marcvanderchijs · 2026-11-13
- Nvidia Earnings Nov 17, Anthropic IPO Nov 18, GTA 6 Nov 19: A Make-or-Break Week — noahsolomon · 2026-11-13
- Indie SEO Tactic: Target Competitor 'Worth It / vs' Question Keywords to Capture Buyers — daluoseo · 2026-11-13
- AI4S startup VeraPraxis raises angel round from Boyu Capital, ARR hits hundreds of millions of yuan — 创业邦 · 2026-11-13
- Indie founder hits $1.22M ARR, up 3,642% in six months — ycombinator · 2026-11-13