What it sells
Large language models.
Business model breakdown
Buyer: who owns the budget?
UnverifiedDevelopers and engineering teams paying for API usage; consumers use the app and web chat for free.
Workflow: what inputs become what output?
Users chat via the DeepSeek app/web (deep thinking, smart search) or call the OpenAI- and Anthropic-compatible API and the Harness desktop agent tool.
Economics: what it saves and how it charges
Pay-per-token API with cache-hit discounts and peak/off-peak pricing; models released openly (V3.x, R1).
Distribution: how it reaches customers
Free consumer app and website, self-serve API open platform, agent integrations (Claude Code, Codex etc.).
Funding history and coverage
| Round date | Stage | Amount | Investors | Source |
|---|---|---|---|---|
| 2026-10-16 | — | — | — | news.google.com |
| 2026-10-14 | — | — | — | news.google.com |
| 2026-10-13 | — | RMB 100B | — | news.google.com |
| 2026-10-06 | Pre-IPO | $11.93B | — | news.google.com |
| 2026-06-25 | — | CNY 51B | — | tidenews.com.cn |
Profiles summarize public reporting and company websites. Business-model notes are MaxBC's reading of that material, not confirmed facts; unknowns are left blank rather than guessed. Updated 2026-10-17.