StepFun has successfully completed its series B funding round, raising several hundred million US dollars from state-owned, strategic, and financial investors.

Key backers included Shanghai State-Owned Capital Investment Co., Ltd. and its affiliated funds, alongside Tencent Investment, Wuyuan Capital, and Qiming Venture Partners.

The funds will support advancement in foundational models, multimodal reasoning, and Artificial General Intelligence (AGI), including innovations like the “Yuewen” assistant and “Take a Photo Ask” search.

Further details regarding the allocation and timeline for the raised capital were not disclosed.