Chinese Tech Startup & Funding Morning Brief

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侯佳林

Daily roundup of Chinese tech startup news, funding rounds, and venture capital trends — curated every morning.

Chinese Tech Startup & Funding Morning Brief05/21/2026, 08:05:56 AM

China Tech Startup & Funding Brief — May 21, 2026

Moonshot AI (Kimi) announces it will unwind its offshore VIE structure for a Hong Kong IPO at a $20B valuation; Step AI nears a $2.5B close with device giants and sovereign capital; DeepSeek inches toward its first-ever external round at a ~$45B target valuation; Weta Dynamics closes China's largest consumer robotics Pre-A at ~RMB 500M; and Alibaba T-Head debuts its Zhen Wu M890 training-inference AI chip.

Chinese Tech Startup & Funding Morning Brief05/20/2026, 10:32:23 PM

China Tech Startup & Funding Brief — May 20, 2026

Today's roundup: AstronStone raises RMB 500M Series A for China's Starship-architecture rocket; AI Agent startups pack the funding queue led by ex-BigTech execs; Kimi (Moonshot AI) welcomes state-backed investors; Youju Body eyes a RMB 3B valuation; and an IT桔子 deep-dive finds Huawei alumni have built 588 startups collectively raising RMB 500B+.

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