Alibaba-backed 3D AI Unicorn VAST Considers Hong Kong IPO

According to AISCORE Beating monitoring, AI 3D company VAST is considering a Hong Kong IPO and is discussing potential issuance plans with Bank of America and CICC.

VAST has had a recent spate of fundraising activities. In June, the company announced the completion of Series A+ and A++ funding rounds, totaling nearly $200 million, with a valuation of over $1 billion. Just a month later, the company completed a Series A3 round of over 1 billion RMB, with investment from Geely Capital, 4399, FunPlus, and Giant Network, among others.

Founded in 2023, VAST's founder, Song Yachen, was a member of the MiniMax founding team. Its subsidiary, Tripo Studio, can generate 3D models based on text or images, and has been used in NetEase's game "Sixteen Sounds of Yan Yun," where players can upload photos to create interactive 3D characters. The company has also launched the World Model Project Eden, aimed at creating a 3D environment for continuous exploration and multiplayer interaction.