StepFun, a large-scale model startup, has recently completed a Series B+ funding round exceeding 5 billion yuan. Participants in this round include industrial investors such as Shanghai S&T Capital InnoFund, China Life Equity Investment, Pudong Venture Capital, Xuhui Capital, Wuxi Liangxi Fund, Xiamen ITG Group, and Huaqin Technology, alongside further follow-on investments from existing shareholders like Tencent, Qiming Venture Partners, and 5Y Capital.
The funds raised will be allocated to foundational model research and development, aiming to build a world-leading base model and accelerate the implementation of the "AI + Endpoint" strategy.
This financing round has set a new record for the single largest funding amount in China's large-scale model sector. Previously, two other large-scale model developers, Zhipu and MiniMax, have already listed on the Hong Kong stock market, receiving enthusiastic responses from the capital markets.
StepFun also announced today that Yin Qi has officially assumed the role of Chairman of the company, responsible for setting the overall strategic direction and technological roadmap. Yin Qi has long been deeply involved in the field of artificial intelligence, with extensive experience in technological evolution, commercial judgment, and organizational development. He will form the core management team alongside CEO Jiang Daxin, Chief Scientist Zhang Xiangyu, and CTO Zhu Yibo.
Yin Qi concurrently serves as the Chairman of Thousand-Dimension Technology, where he has substantial experience in integrating artificial intelligence with automotive applications. StepFun and Thousand-Dimension Technology will deepen their collaboration to jointly advance the implementation of the "AI + Endpoint" strategy.