AI tech company ModelBest closes new financing round

Published: Dec 13, 2024 18:31

Source: gasgoo

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ModelBest, an AI-focused technology company, recently announced the completion of a new financing round, which raised for the company several hundreds of millions of yuan.

Beijing (Gasgoo)- ModelBest, an AI-focused technology company, recently announced the completion of a new financing round, which raised for the company several hundreds of millions of yuan. The funding will expedite the company's efforts to commercialize efficient AI large models, particularly in edge computing applications.

Founded in August 2022, ModelBest has previously secured tens of millions of yuan in angel funding in April 2023 and another significant funding round worth hundreds of millions of yuan in April 2024.

ModelBest has distinguished itself as an innovator in AI large model technology and its practical applications. In November 2023, the company publicly launched its multimodal large model service, Luca. This was followed by the February 2024 release of the open-source edge-side model, MiniCPM.

MiniCPM integrates capabilities such as unlimited text processing, ultra-clear OCR, and real-time video understanding into edge devices for the first time, achieving over 3 million downloads since its debut.

ModelBest's business portfolio now spans AI phones, AI PCs, intelligent cockpits, smart homes, and embodied robotics, through partnerships with industry leaders such as Huawei, MediaTek, Lenovo, Intel, Great Wall Motor, and Yeelight. Notably, ModelBest signed a strategic cooperation agreement with Great Wall Motor in September 2024 to develop AI large model applications in the automotive sector.

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