China’s Largest Startup Deal Ever Lifts Global Venture Funding To $59B In October
October saw global venture funding surge to $59 billion, a 45% year-over-year increase, largely driven by DeepSeek's $15.9 billion Series A at a $90 billion valuation—the largest venture deal for any Chinese company. Funding concentrated in seven billion-dollar rounds across frontier labs, manufacturing, energy, semiconductors and other sectors, with U.S. and China companies raising $28 billion and $20.6 billion respectively. DeepSeek now ranks among the top 10 most-funded private companies globally, and the funding was led by private equity and multistage firms including Sequoia Capital and Index Ventures.
Key points
- DeepSeek raised $15.9 billion at $90 billion valuation—record for Chinese company
- Global venture funding hit $59 billion in October, up 45% year-over-year
- Seven companies raised billion-dollar rounds, accounting for 40% of monthly funding
- U.S. and China together captured $48.6 billion of total funding
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