# Z.ai funding: rounds and investors > Z.ai has raised $5.1B across 2 rounds since 2025. Investors include Sequoia Capital, Qiming Venture Partners and HSG. Every round with its source. Source: https://millionrounds.com/company/z-ai (Millionrounds; every figure on the page links to its filing or article) [Growth startup](https://millionrounds.com/companies) # Who invested in *Z.ai* 2 rounds we have observed, with the 5 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it. AI Construction Generative AI Raised 1 month ago Funding summary Updated 26 Oct 2026 **$5.1B** raised across 2 rounds since 2025, from 2 sources **$140M** Growth **$5.0B** Round - **Latest round:** Round, $5.0B Sept 2026 - **Step-up i:** 35.8× - **Investors:** 5 See who backed them ## The funding story Each circle is a round, placed by date and sized by amount. The line above is the running total. 2026 **$140M** Growth **$5.0B** Round - **First round:** Growth, $140M - **Biggest round:** $5.0B - **Between rounds:** 14 months ## The rounds - **Sept 2026** Round **$5.0B** No investor was named in the report. Reported by TechNode - **Jul 2025** Growth **$140M** *5 new* [Sequoia Capital](https://millionrounds.com/fund/sequoia-capital) [Qiming Venture Partners](https://millionrounds.com/fund/qiming-venture-partners) [HSG](https://millionrounds.com/fund/hsg) [Legend Capital](https://millionrounds.com/fund/legend-capital) [Fortune Venture Capital](https://millionrounds.com/fund/fortune-capital) Source recorded ## Who was in which round The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led. **Growth** 2025 **Round** 2026 [Sequoia Capital](https://millionrounds.com/fund/sequoia-capital) [Qiming Venture Partners](https://millionrounds.com/fund/qiming-venture-partners) [HSG](https://millionrounds.com/fund/hsg) [Legend Capital](https://millionrounds.com/fund/legend-capital) [Fortune Venture Capital](https://millionrounds.com/fund/fortune-capital) ## Everyone who backed them [Sequoia Capital](https://millionrounds.com/fund/sequoia-capital) VC firm **1** round [Qiming Venture Partners](https://millionrounds.com/fund/qiming-venture-partners) VC firm **1** round [HSG](https://millionrounds.com/fund/hsg) VC firm **1** round [Legend Capital](https://millionrounds.com/fund/legend-capital) VC firm **1** round [Fortune Venture Capital](https://millionrounds.com/fund/fortune-capital) VC firm **1** round Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=z-ai). ## Quick answers about Z.ai ### Who invested in Z.ai? Z.ai's investors include Sequoia Capital, Qiming Venture Partners, HSG, Legend Capital and Fortune Venture Capital. ### How much has Z.ai raised? Z.ai has raised $5.1B across 2 rounds since 2025. ### When did Z.ai last raise? Z.ai's most recent round, $5.0B, was in Sept 2026. ### What was Z.ai's biggest round? Its most recent round, $5.0B in Sept 2026, is also its largest on record. ### Who backed Z.ai first? Z.ai's first round on record, in Jul 2025, was backed by Sequoia Capital, Qiming Venture Partners and HSG and 2 others. ### What stage is Z.ai at? Z.ai's latest named round is a Growth, in Jul 2025. ## Companies like Z.ai In the same sector, and raised in the last eighteen months. [**Nirva** $25M · Oct 2026](https://millionrounds.com/company/nirva)[**Lovi** $15M · Oct 2026](https://millionrounds.com/company/lovi)[**Palma.ai** $1.8M · Sept 2026](https://millionrounds.com/company/palma-ai)[**Hang Ten Systems** $53M · Sept 2026](https://millionrounds.com/company/hang-ten-systems)[**OriginalVoices** $1.3M · Sept 2026](https://millionrounds.com/company/originalvoices)[**Positron AI** $875M · Sept 2026](https://millionrounds.com/company/positron-ai) ## Find investors like these Search every investor by what they have actually funded, then narrow to your stage and market. Free. Open the investor searchOr these rounds in the app