Vast raises $200M, becomes China's latest AI unicorn
In brief
- Vast closed $50M Series A round led by Alibaba Group and Hengxu Capital, reaching $1B+ valuation
- Tripo AI converts text and image prompts into detailed 3D objects
- Platform claims nearly 10M individual users and roughly 90K studios and companies
- Clients include NetEase and Sony; competes with Tencent and Google in text-to-3D
The funding milestone
Vast closed a $50 million Series A round in March 2026, led by Alibaba Group and Hengxu Capital, with participation from Baidu Ventures and other investors. The company had already pulled in tens of millions from government-linked and private sources before this round.
The speed is striking. A startup that didn't exist until 2023 now commands a valuation most founders chase for a decade.
Core product and user base
Vast's core product, Tripo AI, translates text and image prompts into detailed 3D objects. The platform has gained traction quickly — Vast claims nearly 10 million individual users and roughly 90,000 studios and companies on the Tripo platform.
Enterprise adoption is already visible. Clients include NetEase and Sony, anchoring the platform's credibility in both gaming and media production.
Competitive positioning
Vast was founded by CEO Simon Song, who previously co-founded MiniMax, another Chinese AI unicorn. His track record in the space gives the company institutional credibility.
Vast positions itself as a competitor to efforts from Tencent and Google in text-to-3D generation. That framing signals ambition — both companies command vast resources. Still, Vast's speed to unicorn status and early enterprise traction suggest it's carving out real territory in a crowded space.
