Meshy raises $400M at $1.5B valuation for AI-powered 3D asset creation

Meshy, founded in 2023 by Ethan Hu, an MIT PhD in computer graphics, raised nearly $400 million at a $1.5 billion valuation in its Series B, which the company describes as the largest round any dedicated AI-3D company has raised. The round was led by IDG Capital, Matrix Partners China and Monolith Management, with participation from existing backers Granite Asia, HongShan, BAI Capital and Source Code Capital. Meshy's platform generates production-ready 3D models from text prompts or images in roughly one minute at approximately $1 per model, compatible with industry-standard formats including FBX, OBJ, GLB and STL. The company reports more than 12 million registered users and over 100 million AI-generated models, with annual recurring revenue increasing approximately 12-fold year over year. Meshy says its technology is being used by teams inside five of the world's ten largest technology companies by market capitalisation or valuation.