StepFun
StepFun is a China AI Labs company founded in 2023 and based in Shanghai, China.
StepFun (legally Shanghai Jieyue Xingchen Intelligent Technology) is a Chinese foundation-model company founded in April 2023 by Jiang Daxin, a former Microsoft executive who worked on products including Bing and Microsoft 365. Based in Shanghai, it specializes in multimodal models spanning text, image, video and audio, releasing the Step model family. Its leadership has included CTO Zhu Yibo, formerly head of AI infrastructure at ByteDance, and chief scientist Zhang Xiangyu, a core author of the ResNet architecture. Backers include Tencent, Qiming Venture Partners, 5Y Capital and Shanghai state-owned investment funds.
StepFun raised over 5 billion yuan (about $700M) in a Series B+ round amid a consolidating Chinese AI field, and is preparing a Hong Kong IPO, positioning it as one of the better-funded multimodal-focused labs.
stepfun.com ↗·China AI Labs·
China·private 
