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The post Under 30 Alum’s 3D Model Startup Hits Unicorn Status Amid AI Frenzy appeared on BitcoinEthereumNews.com. Simon Song, founder of VAST. Fang Yan for Forbes Asia VAST, a Chinese AI model developer founded by 29-year-old gaming enthusiast Simon Song, has become a unicorn startup after raising about $200 million in fresh funding from over a dozen investors including INCE Capital, Genesis Capital and Primavera Capital Group. The company announced its Series A+ and Series A++ financing on Monday. It has reached a valuation of at least $1 billion, according to two people with knowledge of the deal. One of the people said the startup is now valued at about $1.5 billion. A VAST spokesperson declined to comment on the company’s valuation. The fresh financing comes just three months after its Series A round in March, when the startup raised $50 million at an undisclosed valuation from investors led by Alibaba and private equity firm Hengxu Capital. VAST was founded in 2023 by Song, who ma
Read full articleVast's rapid rise highlights China's competitive AI landscape, emphasizing the growing importance of AI innovation in global tech markets. The post Vast raises nearly $200M to become China’s latest AI unicorn appeared first on Crypto Briefing.
"If you're 22 years old in San Francisco and building something in AI, there may be a seed term sheet in your inbox — but if you're 19, oh my God, this means you're really good; you might already have a Series A [offer]," said one, half-kiddingly.
Defense tech unicorn Anduril Industries led the fundraising lineup in a week heavy with rounds for companies focused on applications in the physical world. Anduril’s $5 billion financing was by far the biggest. Other large rounds went to companies focused on supplying data power, robotics, space tech, biotech, and even strawberries.
Krutrim's pivot to cloud after layoffs and limited product updates reflects the economic challenges of building AI models in India.
SK Hynix and Samsung say customers now want long-term contracts to guarantee supplies amid acute shortages
With Genesis Capital fully deployed, the protocol looks to shift from governance-determined capital outflows to rules-bound expenses capped at a fixed percentage of revenue.
A total of 37 companies joined The Crunchbase Unicorn Board in March, the highest monthly count in close to four years, Crunchbase data shows. The robotics sector led unicorn creation last month, with six new billion-dollar startups.
