Fortera Capital Leads Funding for AI Startup Stepfun

Shanghai AI Startup Secures Funding for Growth

A Shanghai-based artificial intelligence (AI) startup, Stepfun, has successfully secured funding to accelerate its growth and development. The company aims to leverage this investment to expand its AI capabilities and drive innovation in the field.

stepping Up in AI: A Conversation with Stepfun

Shanghai AI Startup Raises millions for Next-gen AI Development

Shanghai-based artificial intelligence (AI) company Stepfun has announced a successful Series B funding round. This significant investment, led by private equity firm Fortera Capital, a subsidiary of Shanghai state-owned Capital Investment Co (SSCIC), will fuel Stepfun’s ambitious goal of creating advanced foundational AI models. Stepfun’s focus lies in developing AI models with multimodal capabilities and the ability to perform complex reasoning.This means their AI will be able to process and understand data from various sources,such as text,images,and audio,and use that understanding to solve intricate problems.

Shanghai Tech Startup Raises Funds to Advance AI and Consumer Products

A prominent Shanghai-based tech company,Stepfun,has secured significant new funding,setting the stage for exciting advancements in both artificial intelligence (AI) research and the development of innovative consumer products. established in april of last year, Stepfun has rapidly emerged as a key player in the Chinese tech landscape. This latest round of investment not only underscores the company’s promising trajectory but also highlights Shanghai’s dedication to fostering growth in cutting-edge technological sectors. With the influx of capital, Stepfun is poised to make significant strides in its AI research initiatives while concurrently expanding its offerings of consumer-focused products. The company’s commitment to both research and development promises a future filled with innovative solutions that could have a profound impact on daily life. The 2024 World AI conference in Shanghai was a showcase of cutting-edge technology, drawing crowds eager to witness the latest advancements in artificial intelligence. Attendees marveled at AI models presented on multiple screens, gaining insight into the remarkable progress being made in this rapidly evolving field.

Shanghai rises as a Global AI Hub: Stepfun Success Story Highlights City’s Tech Prowess

Shanghai is solidifying its reputation as a leading force in artificial intelligence (AI) innovation. The city’s strategic focus on fostering technological growth in key industries is demonstrably paying off, as evidenced by the recent success of Stepfun, an AI-powered company, . Stepfun’s achievements serve as a testament to Shanghai’s burgeoning AI ecosystem. The city’s commitment to nurturing a thriving environment for AI development is attracting top talent and investment,propelling it to the forefront of the global AI landscape.

Shanghai Rises as a Global AI Hub: Stepfun Success Story Highlights City’s Tech Prowess

Shanghai is solidifying its reputation as a leading force in artificial intelligence (AI) innovation. The city’s strategic focus on fostering technological growth in key industries is demonstrably paying off, as evidenced by the recent success of Stepfun, an AI-powered company, . Stepfun’s achievements serve as a testament to Shanghai’s burgeoning AI ecosystem. The city’s commitment to nurturing a thriving environment for AI development is attracting top talent and investment, propelling it to the forefront of the global AI landscape.
## Stepping Up in AI: A Conversation with Stepfun



**archyde:** Welcome to Archyde. Today,we’re joined by representatives from Stepfun,a rapidly growing AI company based in Shanghai,to discuss their recent funding success and enterprising plans for the future.



**Archyde:** Thank you for joining us. Could you tell us a bit about Stepfun and its mission?



**Stepfun:** We’re thrilled to be here! At Stepfun, our mission is to develop cutting-edge foundational AI models that push the boundaries of what’s possible with AI. We believe that AI has the potential to revolutionize countless industries and aspects of our lives, and we’re committed to being at the forefront of this revolution.





**Archyde:** Your recent Series B funding round was quite meaningful. can you elaborate on how this investment will be utilized?



**Stepfun:** Absolutely. This funding, led by fortera Capital [[1](https://finance.yahoo.com/news/chinese-ai-benefit-bigger-models-093000246.html)], strengthens our position in the AI landscape. We plan to use thes resources to expand our research and growth capabilities, focusing on building even more complex multimodal AI models with enhanced reasoning abilities. Essentially, we want to create AI that can understand and interact with the world in a more human-like way.





**Archyde:** During the WAIC, you

unveiled Step-2, a trillion-parameter LLM [ [1](https://finance.yahoo.com/news/chinese-ai-benefit-bigger-models-093000246.html)]. Can you provide some insight into the capabilities and potential applications of this model?



**Stepfun:** Step-2 is a major milestone for us. It’s a testament to our team’s dedication and expertise. Step-2 is designed to process and understand data from various sources, like text, images, and audio, allowing it to address complex tasks and provide deeper insights. Imagine applications in areas like drug discovery, personalized education, and even creative content generation.



**Archyde:** Looking towards the future, what are Stepfun’s long-term goals and aspirations?



**Stepfun:** We envision a future where AI empowers individuals and society by solving real-world challenges and unlocking new possibilities. Our ambition is to be a global leader in AI innovation, contributing to a future where technology makes a positive impact on humanity. We are also dedicated to exploring the development of AI for consumer products that can enhance everyday life and improve user experiences.



**Archyde:** Thank you for sharing your vision with us. We’re excited to see what the future holds for Stepfun and the advancements you’ll bring to the field of AI.