A fast-growing 3D modeling startup founded by a young gaming enthusiast has entered the global spotlight after raising nearly $200 million in fresh funding. The company, Vast, has now crossed the $1 billion valuation mark, joining the elite group of AI unicorns and signaling a new wave of innovation in generative 3D technology.
Beijing-based startup Vast has secured close to $200 million in its latest funding round, propelling its valuation beyond $1 billion. This milestone officially places the company among the rapidly expanding list of artificial intelligence unicorns in China.
The investment round was led by Ince Capital and a venture fund supported by China Life Insurance Co. Additional participation came from Genesis Capital, Eminence Ventures, and Primavera Venture Partners, highlighting strong investor confidence in Vast’s long-term potential.
The startup is also backed by major technology giants, including Alibaba Group Holding Ltd. and Baidu Inc., further strengthening its position in the competitive AI landscape.
Vast was founded in 2023 by Simon Song, a 29-year-old entrepreneur with a deep passion for gaming and animation. Before launching Vast, Song worked with leading AI companies, including SenseTime Group Inc., and was also a founding member of MiniMax Group Inc., a developer of large language models.
Song’s interest in gaming and digital creativity played a crucial role in shaping the company’s vision. His academic background in international studies at Johns Hopkins University was complemented by a strong personal interest in strategy games like Civilization, which influenced his understanding of immersive virtual environments.
At the core of Vast’s offerings is its flagship platform, Tripo Studio. This AI-powered tool enables developers and creative professionals to generate 3D models using simple text or image prompts.
The platform operates on a subscription model, with plans starting at $20 per month. Additional charges are based on token usage, similar to pricing models used by AI text and image generation platforms.
Tripo Studio has gained significant traction globally, with around 20 million users. Interestingly, the majority of its user base comes from the United States, followed by Europe, Japan, and South Korea.
Vast operates in a highly competitive space, facing rivals such as Tencent’s Hunyuan 3D and Silicon Valley-based Meshy. These companies are all working towards transforming traditional 3D design workflows into AI-driven processes.
The broader goal is to replace manual modeling software with generative tools that can produce assets quickly and efficiently, much like AI chatbots generate text or video platforms create content.
Despite the excitement surrounding this technology, widespread commercial adoption remains a challenge. The global gaming industry, valued at over $200 billion, has been cautious about fully embracing AI-generated assets due to concerns about quality and reliability.
Vast has introduced its advanced P-series model, designed to generate production-ready 3D assets with low-polygon structures. This innovation addresses one of the biggest limitations of AI-generated models, which typically require extensive manual refinement before use.
By reducing the need for post-processing, Vast’s technology can significantly speed up workflows for developers in gaming, filmmaking, and industrial design.
The company is also preparing to launch Project Eden, a next-generation “world model” that goes beyond static objects. This tool will enable the creation of fully interactive 3D environments, offering users immersive digital spaces rather than flat visual outputs.
Vast is already putting its technology into practice through partnerships with major industry players. One of its key collaborations is with NetEase Inc., a leading gaming company in China.
In the role-playing game “Where Winds Meet,” players can upload images and instantly convert them into interactive 3D avatars. This feature demonstrates the potential of AI-driven modeling to enhance user engagement and creativity in gaming.
Beyond enterprise solutions, Vast is also targeting everyday consumers. The company is developing a new application described by its founder as an “interactive TikTok.”
Unlike traditional short-video platforms, this app will allow users to engage with interactive, AI-generated 3D experiences. Instead of passively watching content, users will be able to explore and interact with digital environments in real time.
This concept reflects a broader shift in how content is consumed, moving from static media to dynamic, personalised experiences.
Industry experts believe that 3D modeling could become a foundational technology in the next phase of the internet. Unlike text or images, 3D models provide a more complete and realistic representation of the physical world.
Joy Dai, a managing director at Eminence Ventures, suggests that the internet’s next major transformation could revolve around interactive content powered by AI, with 3D serving as the primary medium.
This vision aligns with Vast’s long-term strategy of building tools that enable immersive digital experiences across industries.
Despite being a relatively young company, Vast is optimistic about its financial future. Founder Simon Song has indicated that the company could achieve profitability within the next two years.
With strong investor backing, a growing global user base, and continuous innovation, Vast is well-positioned to expand its influence in the AI and 3D modeling sectors.
Conclusion
Vast’s rapid rise from a startup to a unicorn highlights the growing importance of AI-driven 3D technology. By combining gaming insights, advanced AI models, and a clear vision for the future, the company is redefining how digital content is created and consumed.
As competition intensifies and adoption increases, Vast’s innovations could play a key role in shaping the next generation of interactive and immersive digital experiences.