China

zhōngguó

中国

AI startup

AI chūchuàng

AI初创

Vast

Vast

Vast

fundraising

rónzī

融资

unicorn

dújiǎo shòu

独角兽

New Words

News in English

Chinese AI Startup Vast Raises 200 Million to Achieve Unicorn Status

3D modeling startup Vast completed a fundraising round of nearly 200 million, valuing the company at 1 billion and becoming Chinas latest AI unicorn.

Chinese AI startup Vast recently completed a fundraising round of nearly 200 million, bringing the company to a valuation of 1 billion and making it Chinas latest AI unicorn. Founded by a 29-year-old game developer, the company specializes in 3D modeling technology using artificial intelligence. The financing was led by Ince Capital and a venture fund backed by China Life Insurance Co. Vast focuses on applying artificial intelligence to 3D model generation and rendering. The success of Vast reflects the vibrant development of Chinas AI startup ecosystem. In the first quarter of this year, Chinese startups raised a total of 16.5 billion. AI applications, robotics technology, and semiconductor sectors have become major investment hotspots in China.

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