AI tech company ModelBest closes new financing round

Published: Dec 13, 2024 18:31

Source: gasgoo

Save

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.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Aug 26, 2026 11:09

[Solid-state battery: SEVC POWER completes several hundred million yuan financing, accelerating industrialisation of sulphide all-solid-state battery]

[Solid-State Batteries: SEVC POWER Completed Several Hundred Million Yuan in Financing, Accelerating the Industrialisation of Sulphide All-Solid-State Batteries] On 26 August 2026, solid-state battery enterprise SEVC POWER announced that it had completed external financing of several hundred million yuan. This round was co-led by existing shareholders Saike Investment and CICC Capital, with Zhongguancun Qihang, Dingfeng Kechuang, Zhongguancun Yulin, Linjie Venture Capital, Yibin Talent Fund, and Yibin Zhengchuang participating as co-investors. The proceeds will be used for the construction and capacity expansion of production lines for sulphide electrolytes, high-safety batteries, all-solid-state battery cells, and PACK, and to continuously advance the development of the material system, solid–solid interface, cycle life, and continuous manufacturing processes for sulphide all-solid-state batteries, while also expanding the R&D, engineering manufacturing, and marketing teams. The company was recently certified as an “Innovative Small and Medium-sized Enterprise of Sichuan Province (2026)” and was listed on the GEI China Potential Unicorn Enterprise List, marking dual recognition from both capital markets and the industry in the industrialisation track for sulphide all-solid-state batteries.

Aug 26, 2026 11:09

Aug 25, 2026 17:57

[Auto Summit] Sichuan Samsung New Materials Invites You to SMM ASCC2026 (The 8th) Automotive Supply Chain Conference

Aug 25, 2026 17:57

Aug 25, 2026 15:33

[Solid-State Battery: Tinci Materials Completed 100-mt Level Lithium Sulfide and Solid-State Electrolyte Pilot Line]

[Solid-State Battery: Tinci Materials’ 100-MT-Class Lithium Sulphide and Solid-State Electrolyte Pilot Line Construction Completed] On August 23, 2026, Tinci Materials announced that a 100-mt-class lithium sulphide and solid-state electrolyte pilot production line had been completed and would enter trial production in Q3, with lithium sulphide being the core precursor raw material for sulphide solid-state electrolytes.

Aug 25, 2026 15:33