Kuaishou's Kling AI Completes ~$2.9B Funding Round at $18B Valuation
Kuaishou has finalized the independent funding round for its video generation model, Kling AI, with actual capital injection totaling approximately 19.8 billion RMB. Although some investors failed to meet their full commitments, resulting in a slightly lower final amount than the cap, the post-money valuation remains around $18 billion (approx. 120 billion RMB), backed by state funds, Alibaba Cloud, and industrial capital.
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IT Home reported on October 31 that Kuaishou Technology announced on the evening of October 30 that the independent financing round for its subsidiary, Kling AI, has officially closed.
Upon completion of the closing, the total capital increase actually paid by all investors in Beijing Kling amounted to approximately RMB 19.80184 billion (equivalent to approximately USD 2.90533 billion).
In July this year, Kuaishou announced a restructuring of its Kling AI-related business and introduced external investors through Beijing Kling. The maximum fundraising amount set for this round was RMB 20.447 billion, with a pre-money valuation of approximately USD 15 billion. If fully subscribed, the post-money valuation would have been approximately USD 18 billion, equivalent to roughly RMB 120 billion.
The final closing amount is approximately RMB 645 million less than the original fundraising cap. According to Kuaishou's latest announcement, Dakanglan Wu and BFI MIDCO failed to complete the payment of their remaining capital contributions within the specified deadline. Consequently, Beijing Kling terminated the planned capital increases of RMB 100 million from Dakanglan Wu and USD 80 million from BFI MIDCO, totaling approximately RMB 645 million. All other investors have completed their contributions.
Looking at the final shareholder list, Kling's shareholders include state-owned funds, internet platforms, industrial capital, and market-oriented investment institutions. Notably, Shanghai Guofang Digital contributed RMB 1.69 billion, the National Artificial Intelligence Industry Investment Fund contributed RMB 1.4 billion, and Alibaba Cloud contributed approximately RMB 1.363 billion.
IT Home provides the complete list below:
