DeepSeek’s first financing round is drawing renewed attention as the company moves into a second round, with more details emerging about who got in early. Public ownership records cited in the report show that Zhong Shanshan, China’s richest man and founder behind the Nongfu Spring and Wantai Bio businesses, indirectly invested in DeepSeek through a chain of entities linked to Guanzi Venture Capital. Based on the structure described in the article and Tianyancha corporate data, the investment is estimated at roughly RMB 354 million. The report says DeepSeek’s first round, completed in June, included state-backed capital, market-oriented institutions, internet companies, and a RMB 5 billion commitment from CATL. It also names industrial capital from firms such as Andon Health, By-Health, and Septwolves. For Zhong, the DeepSeek deal stands out because it is described as his first move into the AI large-model segment, even though Guanzi Venture Capital had previously appeared as a pre-IPO shareholder in AI chip company Lightelligence. The article also maps a broader technology investment footprint under the Yangshengtang system, including Qiantang New Materials Laboratory and the Kunshan Gewu Zhizhi fund, both of which have been active in hard-tech areas such as new materials, photonic chips, superconducting equipment, embodied intelligence, and solid-state batteries.

XPeng’s robot subsidiary has signed a share purchase agreement with investors and plans to raise more than $900 million at a post-money valuation above $6.3 billion, according to ChainCatcher. XPeng said the deal represents the largest single financing completed by a Chinese company in the robotics sector to date. The round is led by IDG Capital, with Tencent and Alibaba joining as strategic investors, while Gaorong Ventures and others also participated. In terms of deal structure, external investors are contributing about $600 million, an XPeng subsidiary is putting in about $200 million, and entities related to CEO He Xiaopeng and co-president Brian Gu are investing about $100 million. XPeng will retain about 82% control and continue to consolidate the business in its financial statements. The capital will be used for development of IRON, the company’s flagship humanoid robot, as well as embodied intelligence, data capabilities, mass production targeted by the end of 2026, and broader business expansion. The unit is Dogotix, XPeng’s robotics platform covering robot dog and humanoid robot operations.

XPeng Group said its humanoid robotics business has signed equity financing agreements with multiple investors in what the company described as the unit’s first fundraising round. The deal was led by IDG Capital, with Gaorong Ventures participating, while Tencent and Alibaba joined as strategic investors. According to the announcement, the round exceeds $900 million and values the business at more than $6.3 billion after the financing, setting a new record for a single private equity round in China’s embodied intelligence sector. The filing lays out the structure in detail: an XPeng wholly owned subsidiary plans to invest $200 million for 98.6752 million Series A preferred shares, external investors including IDG Capital, Gaorong Ventures, Alibaba and Tencent plan to contribute a combined $600 million for 296 million Series A preferred shares, and management-related buyers controlled by He Xiaopeng and Brian Gu intend to invest $100 million for 49.3376 million ordinary shares. The company also disclosed a spin-off plan for Pengxing, the robotics entity, and redemption rights if a qualified IPO is not completed within seven years after the first closing. The financing comes as China’s humanoid robot race intensifies. XPeng plans to move IRON into mass production by the end of 2026, begin commercial deployments in its stores and campuses, and start formal sales and deliveries in China and overseas in 2027.

Reuters reported that Xpeng Group’s humanoid robot business has signed equity financing agreements with multiple investors, raising more than $900 million at a post-money valuation above $6.3 billion. The deal sets a new record for a single private equity financing round in China’s embodied intelligence sector. IDG Capital led the round, with Gaorong Ventures participating. Tencent and Alibaba also joined as strategic investors. The proceeds will go toward hardware and software development, physical AI model training and iteration, high-quality data collection, production-base construction across the full chain, and global commercialization.

DeepSeek has restarted its second funding round, according to Caijing, which cited multiple trading sources familiar with the matter. The company is reportedly seeking RMB 50 billion in fresh capital at a pre-money valuation of about RMB 500 billion, with signing planned for late August. Caijing said the round had already been underway by mid-July before being abruptly paused near the end of the month. The report also revisited DeepSeek’s first financing round, which began in April and closed in June at RMB 50 billion, with a valuation above RMB 350 billion. Investors named in that round included the National AI Industry Investment Fund, Tencent, CATL, Puquan Capital, NetEase, JD.com, LISI Capital, IDG Capital, Zhengxingu Investment, and Shixiang Capital. According to one participant cited by the outlet, more than RMB 100 billion of capital had initially expressed interest, leaving at least RMB 50 billion still seeking exposure after only half that amount was allocated. Caijing added that the market is also watching model releases as closely as financing activity. It said DeepSeek-V4-Flash formally entered public beta on July 31 and later posted a score of 50 on Artificial Analysis’ latest Intelligence Index, trailing only Zhipu’s GLM-5.2 at 51 in China. On pricing, the report said V4-Flash charges $0.28 per million output tokens, compared with $4.29 for GLM-5.2.

ChainCatcher’s Aug. 3 market roundup pulled together a wide set of developments across crypto and broader markets. The most urgent item was a fresh warning tied to Coldcard wallets after Galaxy identified a third wave of attacks, with estimated losses now above $88 million. Galaxy Research head Alex Thorn said funds from one victim were routed through THORChain into ETH and then deposited to offshore betting platform Duel.com, which he said declined to freeze the assets after being notified. The roundup also highlighted a portfolio reshuffle by Roundhill’s memory-chip ETF. The fund added CXMT, or ChangXin Memory Technologies, at a 2.52% weight, while cutting Samsung Electronics by about 3 million shares from Monday to Wednesday, a sale valued at roughly $432 million. Separately, Michael Saylor posted another Bitcoin Tracker message, a signal that has often preceded Strategy’s next-day disclosure of changes in its BTC holdings. Other items in the report included South Korea’s plan to give regulators emergency intervention powers during severe market swings, Goldman Sachs’ view that the Federal Reserve will hold rates steady through 2026, renewed fundraising by Chinese venture capital firms seeking about $35 billion across at least 60 new U.S. dollar funds, and the launch of Trump Media’s $100,000-a-month Truth API service.

Chinese venture capital firms are moving faster to raise new funds after three years of record weakness, according to the Financial Times, as investor appetite for China’s technology sector shows signs of recovery. Data from Asante Capital shows at least 60 new U.S. dollar-denominated funds are seeking to raise about $35 billion in total, with roughly 40 of them focused on venture investing. The report said firms including HSG, IDG Capital, Matrix Partners China and Future Capital Discovery Fund are marketing new vehicles or preparing to launch fundraising, while ZhenFund and Qiming Venture Partners have recently closed funds. Investor interest has been helped by progress at Chinese tech companies such as Zhipu and MiniMax, as well as advances tied to Moonshot AI, DeepSeek and robotics. Still, market participants told the Financial Times that this does not amount to a full return to boom conditions for Chinese venture capital. Instead, they described it as a selective reopening in U.S. dollar fundraising after three years at depressed levels. Preqin data cited in the report shows 1,105 China-related funds raised $150 billion in 2022, compared with just 97 funds raising $13.6 billion in 2025. The report also said some large U.S. investors remain cautious because of restrictions on sensitive technology investments, while capital from Europe and the Middle East has shown stronger interest.

Chinese venture capital firms are stepping up fundraising after three years of record weakness, according to a Financial Times report cited by BlockBeats. Data from Asante Capital shows that at least 60 new U.S. dollar-denominated funds are collectively seeking about $35 billion, with roughly 40 of them focused on venture capital. Firms including HSG, IDG Capital, Matrix Partners China and Future Capital Discovery are marketing new funds or preparing launches, while ZhenFund and Qiming Venture Partners have recently closed fundraising. The renewed push is tied to stronger investor interest in China’s technology sector. The report said successful listings by companies such as Zhipu and MiniMax, along with progress by Moonshot AI, DeepSeek and robotics companies, have helped bring attention back to the market. Some investors are treating China AI exposure as a hedge against concentrated bets on the U.S., pointing to fierce cost competition among Chinese companies and lower-priced model services. Still, market participants said this does not mark a full return to boom conditions, but rather a selective reopening in dollar fundraising after three years at low levels.