❯ Kling AI closes approximately RMB19.8 billion in financing as Kuaishou retains control

The financing announced in July reaches completionKuaishou announced on October 30 that the conditions for Beijing Kling’s capital increase had been fulfilled, investors had paid the relevant subscriptions and closing was complete. TechWeb’s report on the announcement puts proceeds at approximately RMB19.80184 billion, completing the financing disclosed in July.

Economic ownership and votes differKuaishou’s Lucky Labs holds 66.68% of Kling’s equity and 52.45% of voting rights. Kling CEO Gai Kun holds 3.02% of the equity but 23.72% of votes under special share arrangements. Alibaba, Tencent and Baidu are among the investors. Kuaishou retains control while management has substantial voting influence.

Video generation already has paying customersKling provides AI video generation to creators and businesses, charging through subscriptions and developer access to turn text and visual material into video. Reuters reports that a specific use of proceeds has not been disclosed. Kuaishou previously reported more than RMB850 million in second-quarter Kling revenue. Closing strengthens the capital base of the separately operated business.

▮ SIGNALAs video generation expands paid revenue and raises external capital, voting arrangements increasingly shape how the business is run.