Meshy AI raises $400M Series B at $1.5B for generative 3D

The round was announced July 21 and came in slightly under $400M. It is Meshy's first public valuation. IDG Capital, Matrix Partners China and Monolith co-led. Existing backers including Granite Asia, Sequoia China, BAI Capital and Source Code Capital oversubscribed their allocations. Proceeds go mainly to R&D and international expansion. The company said ARR was growing about 12x year over year as of July, with more than 12 million registered users. It also launched a 3D Agent that turns text, photos or sketches into print-ready models, with a claimed slicer success rate of up to 97%. Crunchbase ranked it second among U.S. rounds that week, behind Atoms' $1.7B raise. It later named Meshy the largest fundraiser in 2026's gaming-adjacent startup funding. The company now reports more than 15 million users and over 3,000 business and education customers. For AI founders, the round shows that generative models for a specific output type, here 3D assets, can draw large checks once revenue is visible. The agent launch also points to a pattern: competing on whether output works downstream (printing, game pipelines) rather than on demo quality.