The dark side of the moon is finalizing a new round of financing, and the pre-investment valuation rises to $4.8 billion

Comparatively, according to the “Science and Technology Innovation Board Daily” report, the Dark Side of the Moon (Kimi) is finalizing a new round of financing. The pre-investment valuation of this round of financing reached 4.8 billion US dollars. A few weeks ago, the dark side of the month's valuation was 4.3 billion US dollars. It is reported that this round of financing will soon be settled, and Dark Side of the Moon has yet to comment on this financing.

Earlier, on December 31, 2025, the Dark Side of the Moon (Kimi) revealed that it had recently completed Series C financing of 500 million US dollars, IDG led an investment of 150 million US dollars, and that old shareholders such as Ali, Tencent, and Wang Huiwen had oversubscribed, with a post-investment valuation of 4.3 billion US dollars. Yang Zhilin, founder and CEO of Dark Side of the Moon, released an internal letter stating that the company has cash reserves of over RMB 10 billion. This scale is no less than that of MiniMax after the IPO. As of June 2025, the Smart Spectrum account has 2.55 billion yuan in cash, and the IPO is expected to raise about 3.8 billion yuan. As of September 2025, MiniMax has 7.35 billion yuan in cash on its accounts, and the IPO is expected to raise 3.4 billion to 3.8 billion yuan. According to sources, this means Dark Side of the Moon can be in no hurry to do an IPO.