Chinese AI startup StepFun has recently closed hundreds of millions of dollars in Series B financing.

The core investors of this financing include the Shanghai State-owned Capital Investment Co, Ltd and its funds, while strategic and financial investors include Tencent Investment, 5Y Capital, Qiming Venture Partners and others.

It is said that StepFun is one of the few large model startups in China that has formed a full series of model matrices from comprehension to generation and from text to multimodal.

StepFun said that the financing will also be used to continue to invest in basic model research and development, and to strengthen multimodal and complex reasoning capabilities.