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The Artificial Index

StepFun

PrivateChinaFounded 2023stepfun.com

StepFun funding

Shanghai foundation-model startup building the Step series of multimodal, audio and video models; filed for a Hong Kong IPO in 2026.

Foundation ModelsMultimodal AI
AI valuation
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No valuation event recorded yet.

Key stats

Funding recorded · 1 round
$2.5B
Revenue
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Releases · last 12 months
1
Upcoming
1
Models
0
Platforms & products
0
Latest release
May 15, 2026
Most active in
Financial
Employees
—
Open roles
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Users
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Recent releases

View all →
May 15, 2026StepFun raises ~$2.5B pre-IPO round$2.5B raised

StepFun raised roughly $2.5B in a pre-IPO round ahead of its Hong Kong listing filing.

Press reportsFunding roundStepFun

Upcoming

1
Calendar →
Jun 8, 2026StepFun targets ~$12B valuation in Hong Kong IPORumored$12B* valuation

StepFun filed for a Hong Kong IPO at a reported valuation of about $12B (WSJ).

The Wall Street Journal (reported)ValuationStepFun

Models

ModelReleased
No models recorded.

Platforms & products

NameLaunched
No platforms or products recorded.
Sources 2
  • Jun 8, 2026 · StepFun targets ~$12B valuation in Hong Kong IPOThe Wall Street Journal (reported)
  • May 15, 2026 · StepFun raises ~$2.5B pre-IPO roundPress reports

StepFun FAQ

How much funding has StepFun raised?

The Artificial Index records $2.5B in funding for StepFun across 1 round. The most recent is StepFun raises ~$2.5B pre-IPO round (May 15, 2026).

When and where was StepFun founded?

StepFun was founded in 2023 and is based in China.

What is StepFun's latest release?

The most recent StepFun release recorded is StepFun raises ~$2.5B pre-IPO round, released May 15, 2026.