AI 3D company VAST said it has completed its Series B and B+ financing, raising approximately 3 billion RMB in a round led by Matrix Partners, while also unveiling the latest version of its flagship 3D base model, Tripo P2.0.

According to the company, the round included Perfect World, BlueFocus, Xindong Energy Investment, Yanqu Games, Zhongke Chuangda, and 37 Interactive Entertainment, alongside joint investors including Dinghui VGC, CICC Capital, and CMC Capital. Existing shareholders such as Dacheng Caizhi, Chunhua Capital, and Wengce Capital also continued to invest.

VAST said it has raised a total of approximately 5 billion RMB in less than six months. The company paired the fundraising announcement with the release of Tripo P2.0, its latest 3D foundation model, linking capital formation directly to product development.

The company said proceeds from the new financing will be used for iteration of 3D native models and data capabilities, expansion of training and inference infrastructure, and product development and commercialization. Those stated priorities place the raise across both model development and the computing stack needed to support deployment.

While the announcement disclosed the round size, investor roster, and intended use of funds, it did not provide additional details on valuation, revenue, or specific commercialization targets. It also did not specify rollout timelines for infrastructure expansion or the next product milestones tied to Tripo P2.0.

Why It Matters

The announcement is notable because it combines two signals that the AI market watches closely: fresh capital and a new model release. In practical terms, that suggests VAST is trying to strengthen its position not only as a model developer but also as a company building the infrastructure and product layer needed to make 3D generative AI commercially viable.

For the broader AI landscape, the funding underlines continued investor appetite for specialized model companies beyond text generation. A company focused on 3D-native AI tools could become increasingly relevant as digital content production, interactive media, and machine-generated assets move closer to real-world commercial use.