StepFun has secured over 5 billion RMB in Series B+ financing, marking a record in China's large model sector to enhance AI model development and implementation.

Target Information

StepFun, an investment company backed by Qiming Venture Partners, has successfully secured over 5 billion RMB in Series B+ financing. This investment marks the highest single financing record in the Chinese large model sector over the past year. The funds will primarily be allocated towards the development of foundational models aimed at establishing a world-class foundational model, accelerating the implementation of the AI + terminal strategy.

StepFun has made strategic choices in pursuing foundational large models and the AI + terminal initiative. Leveraging unique algorithms and system capabilities, the company has achieved world-leading levels in language foundational models and multimodal frameworks. The research efforts are organized around a core matrix of 1+2, with one side focusing on the continuous exploration of intelligence limits and substantial investments in language foundational models. Notably, the latest model, Step 3, has achieved unprecedented inference efficiency within the industry.

Industry Overview

The large model and AI sectors in China have undergone a significant transformation in recent years. With robust government support and increasing investments from venture capital, this industry continues to expand at a swift pace. The demand f