Kuaishou’s Kling AI unit Beijing Kling Technology has signed agreements to bring in the China Artificial Intelligence Industry Investment Fund and Charoen Pokphand Robot as new investors. The China AI fund will invest RMB1.4 billion for about 1.14% of the company, while CP Robot will invest about $19.29 million, or RMB131.45 million, for about 0.11%.
Both investors will receive redemption rights under the agreements, and Kuaishou said the subscription limit was fully used. The filing updates Kling’s ownership structure after its spinout from Kuaishou and gives the generative-video business additional capital and new strategic shareholders. [Kuaishou]