# StepFun

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/stepfun

- Industry: Software
- Headquarters: Shanghai, China
- Website: www.stepfun.com/
- Total disclosed funding: $717M
- Latest round: Series B (Jan 26, 2026)
- Investors on record: 11

## About

Based in Shanghai, China and founded in 2023, Shanghai Jieyue Xingchen Intelligent Technology Co., Ltd., dba StepFun, operates as an AI (Artificial Intelligence) technology company that mainly provides AI big model services. The company's founder and CEO, Dr. Daxin Jiang, served as the vice president and chief scientist of Microsoft Research Asia, while its board chairman, Qi Yin, is also the board chairman of Afari, an automotive and intelligent driving company, and co-founder of MEGVII Technology Limited, an AI IoT application provider. In May 2026, Meorient, a portfolio company of Bonus Capital and others, agreed to acquire a stake in the company for CNY 150 million.

StepFun offers a suite of AI-powered products aimed at enhancing personal efficiency and automating complex tasks. Central to its offerings are the Step series models and Step AI products (with desktop, mobile phone and web app versions), designed to improve image understanding, logical reasoning, and text generation. These products cater to various sectors like education, marketing, and research. 

The company generates revenue by providing a big AI model and other related services.

## Funding rounds

- Series B, Jan 26, 2026, $717M — Qiming Venture Partners, 5Y Capital, HUAQIN Telecom Technology Co. Ltd., China Life Capital, Pudong Venture Capital, Xiamen ITG Holding Group, Wuxi Yuanyue Private Equity Fund Management, Tencent Investment, Shanghai Xuhui Capital Investment, Shanghai State-owned Capital Investment Leading Fund
- Series B, Dec 23, 2024 — Qiming Venture Partners, 5Y Capital, Tencent Investment, Shanghai State-owned Capital Investment

## Investors

- Qiming Venture Partners (https://capitalatlas.ai/funds/qiming-venture-partners) — Series B
- 5Y Capital (https://capitalatlas.ai/funds/5y-capital) — Series B
- Tencent Investment — Series B
- Shanghai State-owned Capital Investment — Series B
- HUAQIN Telecom Technology Co. Ltd. — Series B
- China Life Capital — Series B
- Pudong Venture Capital (https://capitalatlas.ai/funds/pudong-venture-capital) — Series B
- Xiamen ITG Holding Group — Series B
- Wuxi Yuanyue Private Equity Fund Management (https://capitalatlas.ai/funds/wuxi-yuanyue-private-equity-fund-management) — Series B
- Shanghai Xuhui Capital Investment — Series B
- Shanghai State-owned Capital Investment Leading Fund (https://capitalatlas.ai/funds/shanghai-state-owned-capital-investment-leading-fund) — Series B