Kimi, the Dark Side of the Moon, has completed a $500 million Series C funding round at a valuation of $4.3 billion, with IDG leading the round with $150 million.

Alibaba, Tencent, and existing shareholders including Wang Huiwen oversubscribed; Wang Huiwen has invested a total of US$70 million. CEO Yang Zhilin stated that the company has cash reserves exceeding RMB 10 billion and is not in a hurry to IPO.