CATL

A reported RMB 50B ($7.1B) round would value DeepSeek at RMB 500B ($71B), with closing targeted by end of October. Founder Liang Wenfeng told investors annualized revenue has reached $1B, more than double from under $500M a few months ago. The new investors were not named; in June the company raised about RMB 50B at a post-money valuation near RMB 400B ($57B), with Liang contributing RMB 20B, Tencent RMB 10B, and CATL RMB 5B. Shanghai STAR Market IPO preparations are also progressing.

About RMB 200M ($28M) in new funding has gone to Damao Technology, a Shanghai AI energy company; investors and valuation were not disclosed. Founded in 2021, the firm is led by CEO Jian Yumin, formerly director of SenseTime's carbon neutrality development research center, and counts CATL, SenseTime and Cambricon among shareholders. Its earlier A+ round of nearly RMB 100M was led by CATL-affiliated Puquan Capital, and GoodWe invested in July 2026. Damao offers an energy-model and AI-agent platform for computing-electricity coordination, virtual power plant and operations.

Battery maker CATL led a B+ round for DeepCtrls, a physical AI company, that raised hundreds of millions of yuan, or tens of millions of dollars. Aramco Ventures, Taiping Innovation Investment (太平创新投资), GF Xinde (广发信德) and Fosun Venture Capital (复星创富) joined, along with existing backers Source Code Capital (源码资本) and Guangyuan Capital (光远资本). The company says the money will go to physical AI research, smarter AI computing and energy infrastructure, and overseas expansion.