Meshy, the Silicon Valley company building foundation models for 3D generation, raised nearly $400 million in a Series B at a $1.5 billion valuation on July 21 — its first publicly disclosed valuation, and what it calls the largest round to date for a company built specifically for AI 3D.
The investors, with a caveat
Meshy's own announcement names no investors, saying only that the round drew "a group of leading global investors, with participation from all existing investors." Trade press reports the leads as IDG Capital, Matrix Partners China and Monolith Management, with existing backers Granite Asia, HongShan, BAI Capital and Source Code Capital returning — attribution worth keeping, since the company has not confirmed it.
Growth without a revenue number
Meshy says annualised revenue is growing about 12x year over year — a multiple, not a figure; it has never disclosed absolute ARR. It reports more than 12 million registered users and over 100 million 3D models created. Founded by MIT PhD Ethan Hu, it says five of the world's ten largest technology companies by market capitalisation have teams using the product.
Games, printers and fashion
Customers span games (Nexon, NetEase Games, 37 Interactive Entertainment), 3D printing (Bambu Lab, Creality, Elegoo, FlashForge, xTool) and brands including Hugo Boss and Sweden's museum of art and design.
What shipped with the money
Four products launched alongside the round: Meshy 3D Agent, which converts text, a photo or a sketch into a print-ready model with a claimed 97% slicer success rate; Auto Split for one-click part separation; Smart Topology, generating models in about 10 seconds at 100 to 15,000 polygons; and 8K Texture. The company's pitch, in its own words: work that once took specialist skills, expensive software and weeks now takes "about a minute and a dollar."