Chinese AI startup Zhipu secures over $140 million in new strategic funding

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Chinese AI startup Zhipu announced today that it has raised over RMB 1 billion ($140 million) in a new strategic funding round. Investors include Hangzhou government-backed firms, with the funds aimed at advancing Zhipu’s domestically developed GLM foundation model and expanding its AI ecosystem. The latest round of investment in Zhipu comes less than three months after the company secured RMB 3 billion ($41.1 million) in funding on Dec. 17, 2024. It also marks the first funding round this year among China’s so-called “six AI tigers,” a group of emerging large-model startups. As an industrial investment fund under Hangzhou City Investment, it focuses on promoting industrial growth and urban development through capital investment.