ModelBest Hits $1B+ Valuation for On-Device Foundation Models
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Generative AI
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ModelBest, a Chinese developer of on-device AI foundation models, raised several hundred million RMB, reaching a valuation exceeding $1B. The funding will accelerate its push to deploy efficient models directly on smartphones and IoT devices. ModelBest Hits $1B+ Valuation for On-Device Foundation Models Chinese AI startup ModelBest has raised "several hundred million RMB" (approximately tens of millions of USD) in a new funding round, propelling the company into the unicorn tier with a valuation exceeding $1B. The round was led by Shenzhen Capital Group and Inovance Capital.