The Dark Side of the Moon Completes $500 Million Series C Funding Round, Lead by IDG with $150 Million

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**December 31 –** The Dark Side of the Moon (Kimi) has closed its $500 million Series C funding round, led by IDG with a $1.5 billion investment. Existing shareholders including Alibaba, Tencent, and Wang Huiwen have subscribed to additional shares, pushing the company’s post-investment valuation to $4.3 billion. Wang Huiwen has already invested a total of $70 million in the firm, per reports. A source close to the company noted primary market enthusiasm for The Dark Side of the Moon exceeded expectations. On the same day, Yang Zhilin, founder and CEO of The Dark Side of the Moon, issued an internal memo revealing the company holds over 10 billion RMB in cash reserves—an amount comparable to the post-IPO cash holdings of Zhipu and MiniMax. - As of June 2025, Zhipu has $2.55 billion in cash on hand, with an expected IPO raise of ~$3.8 billion. - As of September 2025, MiniMax holds $7.35 billion in cash, targeting an IPO fundraising range of $3.4–$3.8 billion. Sources added, “This means The Dark Side of the Moon does not have to rush to go public.”

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