Vast Valuation Surge: Generative 3D Modeling Startup Started by Gen-Z Gamer Raises USD 200 Million in China; Now Valued at USD 1 Billion
Beijing-based 3D-modeling startup Vast has achieved a USD 1 billion valuation after raising nearly USD 200 million. Founded in 2023, the company’s Tripo Studio uses generative AI to create production-grade 3D assets for games and film. CEO Simon Song aims for profitability within two years, targeting both professional developers and mass-consumer interactive content markets.
Vast, a 3D-modeling startup founded by 29-year-old entrepreneur Simon Song, has achieved a valuation exceeding $1 billion following a new funding round that raised nearly $200 million. The Beijing-based company has rapidly emerged as a significant player in the generative AI space, specialising in tools that convert text and image prompts into production-ready 3D assets.
The latest financing was led by Ince Capital and a venture fund backed by China Life Insurance Co., with additional participation from Genesis Capital, Eminence Ventures, and Primavera Venture Partners. The startup, which was founded in 2023, has already garnered support from major industry players including Alibaba Group and Baidu Inc. Skyroot Aerospace Becomes India’s 1st Space-Tech Unicorn After Raising USD 60 Million From GIC and BlackRock,
AI-Powered 3D Content Creation
At the core of Vast’s operations is Tripo Studio, a platform that enables developers and creative professionals to generate 3D models efficiently. By automating the creation of polygon meshes, the company claims it can significantly reduce the manual editing time typically required for 3D production in video games, film, and industrial design.
The platform operates on a subscription model starting at USD 20 per month, supplemented by fees based on token consumption. Currently, Vast reports a user base of approximately 20 million, with the majority of its customers located in the United States, followed by Europe, Japan, and South Korea.
Navigating the Gaming Industry
Vast competes in an increasingly crowded market against established entities such as Tencent Holdings’ Hunyuan 3D and Silicon Valley-based startup Meshy. While the $200 billion gaming industry represents a potentially lucrative market for 3D generative AI, the sector remains cautious about adopting these technologies for large-scale production pipelines.
To address these concerns, Vast is focusing on technical precision, such as its P-series model which produces game-ready assets with low-polygon frameworks. The company is also preparing to launch Project Eden, a tool designed to generate fully explorable 3D environments, as it seeks to expand its footprint beyond single-object generation.
Future Strategic Roadmap
The startup is actively deploying its technology through high-profile partnerships, including a collaboration with Chinese gaming giant NetEase Inc., which allows players to generate interactive 3D avatars within the title Where Winds Meet. Beyond professional tools, CEO Simon Song has indicated an interest in broader consumer applications, including an upcoming app intended to offer interactive, bite-sized experiences. Can Elon Musk Be Fired From SpaceX? Billionaire Has Sole Power To Remove Himself as CEO or Chairman, Reveals IPO Filing.
Founder Simon Song, a former founding member of AI developer MiniMax Group, expressed confidence in the company's trajectory, stating that Vast could potentially turn a profit within the next two years. Investors have praised Song’s leadership, noting his optimistic approach as a driving force behind the company’s swift ascent to unicorn status
(The above story first appeared on LatestLY on Jun 01, 2026 12:48 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
