AI 3D startup Meshy has closed a nearly $400 million Series B round, pushing its post-money valuation past $1.4 billion. The company's technology converts text or images into editable, printable 3D models.
The round was led by IDG Capital, Matrix Partners China, and Monolith, with follow-on investments from existing backers including Granite Asia, Sequoia China, BAI Capital, and Source Code Capital.
The funding is backed by real revenue. Chinese tech media 36Kr previously reported that Meshy's annual recurring revenue exceeded $40 million in April. According to the company's website, it now has over 10 million users and has generated more than 100 million 3D models in total.
Meshy's next move is to expand from "generating 3D assets" to "real-time generation of gameplay." The company has launched Meshy Labs and showcased its first AI-native game, Black Box: Infinite Arsenal. Players combine items, and the AI generates new weapons and skills in real time, which are then handed off to a traditional game engine to execute.