3D-Modeling Startup Vast Considers Hong Kong IPO

Vast, a Chinese 3D-modeling startup, is weighing an initial public offering in Hong Kong. The company is currently collaborating with Bank of America Corp. and China International Capital Corp. to assess a potential share sale, although a final decision has not been made.

Founded in 2023 by Simon Song, the startup developed Tripo Studio, a tool enabling developers and creative professionals to generate 3D models using text and image prompts. The company recently achieved a $1 billion valuation after raising nearly $200 million from investors including Alibaba Group Holding Ltd., Baidu Inc., and Ince Capital.

Vast also maintains a strategic partnership with NetEase Inc. for the game Where Winds Meet, which utilizes the startup's technology to create interactive 3D avatars based on photos.