Big round · 1 September 2026

V

VAST raises $446M Series B led by Matrix Partners

By Millionrounds ResearchPublished 16 September 2026

VAST, based in China, has raised $446M in a Series B led by Matrix Partners, announced on 1 September 2026. 8 other investors joined. It is the 127th largest equity round we recorded in the twelve months to that date, and the 13th largest Series B of 389. The median Series B over the same period was $50M, so this one is 8.9 times that. Its previous round on record was a Series A of $500M in March 2026, 6 months earlier.

Raised$446M2 sources reported it
StageSeries B3 earlier rounds on record
Investors91 named as lead
Where CNChina

AIAdvanced ManufacturingGenerative AI

How big is it?

Against every equity round we recorded in the twelve months to 1 September 2026. Ranks count companies, so the same raise reported twice is counted once.

#127equity round of the last twelve months
#13Series B of 389 in that time
#4round in China, of 22
This round$446M
Median Series B$50M

8.9 times the median Series B of the last twelve months.

Who invested

Also in the round

Funding history

  1. September 2026Series B$446M
  2. March 2026Series A$500M
  3. July 2025Pre-seedUndisclosed
  4. April 2005Series AUndisclosed

$946M raised across the 4 rounds we hold.

Reported by

  1. TechStartups1 September
  2. Ventureburn1 September

The round's figures come from these reports; each link opens the original.

Other big rounds that week

Crusoe$3.0B GrowthSnorkel AI$350M GrowthFFélix$200M Series CScan.com$220M Growth
The companyVAST on Millionrounds→Weekly roundupWeek of 31 August→Monthly roundupSeptember 2026→