China · Series B startup

Who invested in VAST

3 rounds we have observed, with the 22 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

Advanced ManufacturingAerospace & SpaceAIGenerative AI

Raised 2 months ago

Funding summaryUpdated 5 Nov 2026

$946Mraised across 3 rounds since 2025, from 5 sources

$500MSeries A$446MSeries B
Latest round
Series B, $446MSept 2026
Led by
Matrix Partners
Biggest round
$500MSeries A · Mar 2026
Investors
22 (3 led)
See who backed them

The funding story

Each circle is a round, placed by date and sized by amount. The line above is the running total.

2026
?Pre-seed$500MSeries A$446MSeries B
First round
Pre-seed
Jul 2025
Biggest round
$500M
Series A · Mar 2026
Usual gap between rounds
8 months
the median of 2

The rounds

  1. Sept 2026
    Series B$446M9 new

    Reported by TechStartups and 1 other

  2. Mar 2026
    Series A$500M8 new

    Reported by Ventureburn and 1 other

  3. Jul 2025
    Pre-seedAmount undisclosed5 new

    Reported by Firms' own news pages

Who was in which round

The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led.

Pre-seed2025Series A2026Series B2026Matrix PartnersLBalerion Space VenturesLBeijing AI Industry Investment FundLPantera CapitalMitsui & CoQatar BanCMC Capital GroupSakana AIPerfect WorldPrimavera Capital Group

Everyone who backed them

Matrix PartnersVC firm1round, led 1
Balerion Space VenturesVC firm1round, led 1
Beijing AI Industry Investment FundVC firm1round, led 1
Pantera CapitalVC firm1round
Mitsui & CoCorporate VC1round
Qatar BanGrowth equity1round
CMC Capital GroupCorporate VC1round
Sakana AIGrowth equity1round
Perfect WorldCorporate VC1round
Primavera Capital GroupPrivate equity1round
ThundersoftVC firm1round
37 Interactive EntertainmentCorporate VC1round
Fortune CapitalWealth manager1round
Blue Focus PR ConsultingVC firm1round
CICC CapitalInvestment firm1round
NikonInvestment firm1round
CDH VGCGrowth equity1round
EminenceVC firm1round
Oasis CapitalPrivate equity1round
Space CapitalVC firm1round
Stellar VenturesVC firm1round
Tsinghua Alumni Seed FundVC firm1round

Missing a round, or an investor who was in one? Tell us.

Quick answers about VAST

Who invested in VAST?

VAST's investors include Matrix Partners, Balerion Space Ventures, Beijing AI Industry Investment Fund, Pantera Capital and Mitsui & Co, and 17 more on record. Matrix Partners led its latest round.

How much has VAST raised?

VAST has raised $946M across 3 rounds since 2025. One round did not disclose an amount, so the total is a floor.

When did VAST last raise?

VAST's most recent round was a Series B of $446M in Sept 2026, led by Matrix Partners.

What was VAST's biggest round?

VAST's largest round on record is $500M (Series A), in Mar 2026, led by Balerion Space Ventures.

Who backed VAST first?

VAST's first round on record, in Jul 2025, was backed by Beijing AI Industry Investment Fund, Fortune Capital and Eminence and 2 others.

What stage is VAST at?

VAST's latest named round is a Series B, in Sept 2026.

Where is VAST based?

VAST is based in China.

Who led VAST's rounds?

Beijing AI Industry Investment Fund led the Pre-seed in 2025; Balerion Space Ventures led the Series A in 2026; Matrix Partners led the Series B in 2026.

Companies like VAST

In the same sector, and raised in the last eighteen months.

Moffett AI$150M · Nov 2026Nanochap$119M · Nov 2026GenRobot AI$100M · Nov 202601.AIOct 2026Approaching.AI$193M · Oct 2026BioGeometry$100M · Oct 2026

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