Shanghai-based AI startup StepFun has raised over RMB 5 billion (around US$717 million) in a series B+ funding round, its largest in China’s large-model sector over the past year.

The company also appointed AI veteran Yin Qi as chairman, who will oversee strategic and technological development alongside CEO Jiang Daxin.

The funding will support the development of foundation models and the expansion of its AI-enabled device offerings, including smartphones and vehicles.

StepFun claims to be a leader in language and multimodal models, with recent releases such as a deployable open-source GUI model supporting multiple devices.

🔗 Source: Pandaily