Zhipu secures $1.4 billion strategic investment from Shanghai state funds · TechNode

Zhipu secures $1.4 billion strategic investment from Shanghai state funds · TechNode

Chinese AI startup Zhipu announced a strategic investment of RMB 1 billion ($140 million) from Shanghai’s Pudong VC and Zhangjiang Group at its July 2 ecosystem conference, advancing its IPO plans. Zhipu, backed by Tsinghua University and one of China’s leading AI firms, began IPO counseling in April and has already raised over RMB 10 billion ($1.4 billion), reaching a valuation above RMB 20 billion ($2.79 billion). Founded in 2019, Zhipu was Ch…