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Chinese AI firm ModelBest becomes unicorn after raising over $146m

Chinese AI technology company ModelBest, which develops on-device AI models, has raised several hundred million yuan in a new funding round co-led by Shenzhen Capital Group and Inovance Capital, becoming a unicorn after three rounds over the past year.

The company added that, combined with an earlier round led by China Telecom, its total fundraising in Q1 2026 has exceeded 1 billion yuan (US$146 million).

The company said its open-source MiniCPM model family has reached more than 24 million downloads across platforms including GitHub and Hugging Face.

ModelBest said MiniCPM has been integrated into products including Changan Mazda EZ-60 and Geely Galaxy M9, and that it recently released MiniCPM-o 4.5, and showed MiniCPM-V 4.5 on a robot at the 2026 Zhongguancun Forum.

🔗 Source: Pandaily

🧠 Food for thought

Implications, context, and why it matters.

The ‘Mini’ in MiniCPM shapes its strategy

  • ModelBest started the MiniCPM family as small language models (SLMs) with 2.4 billion and 1.2 billion non-embedding parameters, leaning on efficiency rather than sheer size 2.
  • That choice lets some workloads run on devices, which can cut cloud-based application programming interface (API) calls for certain tasks and reduce ongoing inference costs 3.
  • The lineup now includes 8 billion-parameter multimodal models with features such as real-time video understanding, while the guiding idea stays centered on efficient local execution 45.
  • Open-source work with Tsinghua University’s THUNLP, a natural language processing lab, and Renmin University of China helps explain download momentum on GitHub and Hugging Face 6.

On-device AI offers another path alongside cloud systems

  • ModelBest has put MiniCPM on-device models into automobiles, smartphones, personal computers (PCs), and smart home devices, which can sit alongside cloud-first setups in some deployments 7.
  • In autos, ModelBest has named Geely, Volkswagen, Changan, and GAC Group, a Chinese state-backed automaker, as partners where low latency and spotty connectivity make local AI practical 8.
  • ModelBest says MiniCPM is built into Changan Mazda EZ-60 and Geely Galaxy M9 1.
  • ModelBest positions MiniCPM-o as a move toward “full-modality” systems, meaning AI that handles multiple input types. The company says it launched MiniCPM-o 4.5 and presented MiniCPM-V 4.5 on a robot at the 2026 Zhongguancun Forum, a major Chinese technology conference 91.

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