VAST raises $446M Series B/B+ to scale generative AI 3D platform

Six rounds in six months show Chinese gaming and entertainment giants betting AI can finally kill the hundred-hour 3D asset pipeline.

• VAST closed combined Series B and B+ rounds totaling 3 billion yuan (about $446M), led by Matrix Partners China.
• VAST's platform Tripo turns text or images into textured, rigged 3D models in seconds, serving over 6.5 million creators and 90,000 developers across gaming, film and design.
• The round drew strategic capital from gaming and entertainment players Perfect World, BlueFocus and 37 Interactive Entertainment alongside financial investors like CICC Capital and CMC Capital Partners.
• VAST's fundraising pace: $50M Series A in March, roughly $200M in Series A+/A++ by June, over 1 billion yuan in Series A3 in July, then 3 billion yuan in Series B/B+ in September, totaling nearly 6 billion yuan in six months.
• Rival Chinese AI-3D startup Meshy raised nearly $400M in a Series B in July at a $1.5 billion valuation, underscoring how fast capital is flooding into generative 3D infrastructure.
• The speed and strategic makeup of the funding suggest major gaming and entertainment firms now view generative AI 3D as production-ready infrastructure, not a research bet, potentially compressing asset creation from hundreds of hours to seconds.