Capital rushes into AI 3D: VAST, Meshy, and Yingmou absorb over RMB 8 billion in half a year

FoST Future Narrative published an analysis of the financing and commercialization landscape in the AI 3D sector: as of the end of September, three companies founded by people born in the 1990s—VAST, Meshy, and Yingmou—had raised a combined total of over RMB 8 billion within half a year. VAST raised over RMB 5 billion in half a year and reached a valuation of USD 2 billion; Meshy completed a USD 400 million financing round in July 2026 at a post-money valuation of USD 1.5 billion, and its ARR surpassed USD 100 million at the end of September.