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

12 hours ago

[Solid-State Battery: Highpower Technology Deploys Three Solid-State Routes of Polymer/Oxide/Sulphide, Multiple Solid-State Electrolyte Patents Landed]

[Solid-state battery: Highpower Technology deploys three solid-state routes of polymer/oxide/sulphide, with multiple solid-state electrolyte patents granted] On September 17, 2026, Highpower Technology disclosed its solid-state battery layout during an institutional survey. The company is simultaneously developing three major solid-state electrolyte technology routes: polymer, oxide, and sulphide. In 2026, it has filed four core solid-state battery patents, covering composite solid-state electrolytes, solid-state electrolyte membranes, and gel polymer electrolytes, with a focus on solid-state battery development for I-end devices and robotics scenarios.

12 hours ago

[Auto: Leapmotor to Join Series A Funding of FAW's Qixin Power]

Leapmotor plans to participate as a strategic investor in the Series A round of Qixin Power, a FAW Group unit, under an LOI signed in Huzhou on Sep 17. The two sides will deepen cooperation on hybrid engines, e-drive systems and range extenders, and jointly advance R&D on solid-state, lithium-rich manganese-based and sodium-ion batteries plus standardized cells, while exploring battery recycling and overseas supply chain collaboration.

12 hours ago

[Solid-state battery: Easpring Technology's sulphide electrolyte enters the small-scale test verification stage with leading clients]

[Solid-state battery: Easpring Technology's sulphide electrolyte enters the small-scale test validation stage with leading clients] On 16 September 2026, Easpring Technology stated on an investor interaction platform that the company has prepared highly active and highly dispersed lithium sulphide and nano-sulphide electrolyte precursors through special production processes such as particle size control, establishing an integrated preparation chain from "lithium sulphide – highly active sulphide electrolyte precursor – high performance sulphide electrolyte". Currently, the sulphide electrolyte materials synthesised from the company's self-developed lithium sulphide and precursors have entered the small-scale test validation stage with leading solid-state battery clients.

12 hours ago