S
StepFun
Graduated neolabDevelops Step series large language and multimodal models
Raised, confirmed—0 confirmed rounds
Valuation, confirmed—none disclosed
Valuation, reported—no open report
Founded2023Shanghai, CN
Key facts
| Field | Value | Source · checked |
|---|---|---|
| Classification | Graduated neolabShanghai-based multimodal model developer founded in 2023 by a former Microsoft Research Asia chief scientist; Series B led by Fortera Capital (Dec 2024) | |
| Founded | 2023 | |
| Headquarters | Shanghai, CN | scmp.com A Shanghai-based artificial intelligence (AI) start-up, founded a year ago by a former vice-president at Microsoftchecked 9 Nov 2026 |
| Founders | Jiang Daxin | |
| Website | stepfun.com | |
| Profiles and work | LinkedInWikidata | How links are checkedchecked 10 Nov 2026 |
Funding rounds
No round of StepFun is confirmed by the company or a regulator. Rounds marked Reported or Abandoned are not included in that total. Status rules: methodology.
| Date | Round | Amount | Valuation | Investors | Status | Source · checked |
|---|---|---|---|---|---|---|
| Dec 2024 | Series B | undisclosed | — | Lead: Fortera Capital; Tencent, Qiming Venture Partners | Reported | South China Morning Post Fortera Capital, a private-equity firm under the Shanghai State-owned Capital Investment Co (SSCIC), led Stepfun’s recent series B financing, according to Fortera’s WeChat post on Monday.checked 9 Nov 2026 |
Notes on these rounds
- Dec 2024 Series B: Reported as 'hundreds of millions of dollars'; exact amount not disclosed.
People
| Name | Role | Before | Now | Source · checked |
|---|---|---|---|---|
| Jiang DaxinScholar | Founder | Microsoft Research Asia (Chief scientist) | Current | scmp.com StepFun, founded by Microsoft Asia Research Institute’s former chief scientist Jiang Daxin in 2023checked 9 Nov 2026 |
Professional facts from public sources only. How people records are handled.
What it has shipped
| Name | Kind | Date | Open weights | Source · checked |
|---|---|---|---|---|
| Step 5 Preview | model | 20 Sep 2026 | Yes | |
| Step-1V | model | — |
Commonly cited, checked
Figures and statements about StepFun that circulate in lists and summaries, and what the sources support.
| Claim | Finding | Source |
|---|---|---|
| Filed for a HKEX listing; valuation about $10B; Step-5 | No published source checked for this record reports a filed HKEX application, a valuation or a Step-5 model. | stepfun.com 阶跃星辰于2023年4月成立 |
Work at StepFun, or see something wrong? Update this profile with a public source. How corrections work.