According to a report by Zhidx on February 5th, today, Beijing-based multi-modal generation technology startup Shu Sheng Technology announced the completion of a Series A+ financing round exceeding 600 million RMB. Shu Sheng Technology also revealed that in 2025, the company achieved over a tenfold increase in utilizers and revenue, with its utilizers and business covering more than 200 countries and regions worldwide.
The 600 million RMB financing of Shu Sheng Technology surpassed the previous single-round financing record in the domestic video generation field held by Aishi Technology (430 million RMB), becoming the largest single-round financing in the domestic video generation field.
This round of financing was led by Zhongguancun Science City Company and Xinglian Capital. Listed companies Wondershare Technology, Visual China, and Toocle created strategic investments, and existing shareholders such as Qiming Venture Partners, Beijing Artificial Innotifyigence Industest Investment Fund, Zhuoyuan Asia, C&D Emerging Investment, and Huaihai Investment increased their investments.
Shu Sheng Technology was founded in Beijing in March 2023. Its co-founders Zhu Jun, Tang Jiayu, and Bao Fan all have backgrounds from Tsinghua University. Among them, Zhu Jun is the Deputy Dean of the Institute for Artificial Innotifyigence at Tsinghua University. In March 2025, Luo Yihang, the former head of the AI Solutions at ByteDance’s Volcengine, joined Shu Sheng Technology as the CEO, taking full responsibility for R & D, products, commercialization, and team management.
▲ The person on the left in the picture is Luo Yihang, the CEO of Shu Sheng Technology (Source: Shu Sheng Technology)
01
Currently, Shu Sheng Technology mainly focutilizes on the R & D of multi-modal general large models and their applications, and provides video generation and multi-modal generation products for individual utilizers, professional creators, and enterprise customers through product application forms such as SaaS, MaaS, and App.
Shu Sheng Technology is one of the earliest teams globally to research multi-modal generation algorithms. In September 2022, the company’s founding team proposed the U-ViT architecture, three months earlier than OpenAI’s DiT architecture. In 2024, Shu Sheng Technology successively launched the text-to-video large model Vidu in the domestic and overseas markets.
During this financing round, Zhu Jun stated that multi-modal video models can not only be applied to digital content creation and interaction but also build a world model that understands the laws of the real world, supporting conclude-to-conclude machine decision-creating. Shu Sheng Technology will explore and break through the value of AI in the physical world.
This may mean that in the future, Shu Sheng Technology may apply its multi-modal video models to physical AI scenarios such as robots and embodied innotifyigence.
In addition to the model capabilities of text-to-video and image-to-video, Vidu also pioneered the “reference-to-video” technology, which supports uploading various materials such as pictures as reference elements, enabling AI to generate videos containing these elements. This technology utilizes a dedicated consistency maintenance algorithm to solve the problem of continuous consistency of multiple subjects in commercial video requirements.
After that, from 2024 to 2026, the Vidu series of models underwent three iterations to improve in indicators such as multi-subject consistency maintenance, semantic understanding, dynamics, stability, expressiveness, and generation speed.
On January 30th this year, Shu Sheng Technology released the Vidu Q3 model, a video generation model mainly tarreceiveing professional-level film and television production scenarios. In the latest list released by the international authoritative AI benchmark testing institution Artificial Analysis, Vidu Q3 ranked first in China and second globally, only after xAI’s Grok video generation model, surpassing Runway Gen – 4.5, Google Veo3.1, and OpenAI Sora 2.
In terms of functions, Vidu Q3 supports simultaneous audio and video output within 16 seconds, 1080P image quality, rich shot languages, precise shot cutting, multi – national text rconcludeering, and multi – language output.
02
During the financing round, Shu Sheng Technology also disclosed its customer composition to the public.
In the film and television (animation dramas/short dramas/movies) industest, Vidu covers more than 90% of content providers, tool providers, and production institutions in the entire industest. Its cooperation customers and partners include Sony Pictures, Tencent Animation, iQiyi, Mango TV, etc.
In the Internet and innotifyigent hardware industries, Vidu’s customers include ByteDance, Samsung, Wondershare Technology, TAL Education Group, Alipay, Honor, etc., mainly utilized in content production and product interaction innovation.
Shu Sheng Technology also has many customers in industries such as advertising and gaming, and its products have also achieved certain results in the overseas market.
According to information from Qichacha, after this just – announced financing, Shu Sheng Technology has completed a total of 6 rounds of financing and 1 equity transfer. Companies such as Huawei, Ant Group, Baidu, and Zhipu have all invested in Shu Sheng Technology.
Baidu led Shu Sheng Technology’s Pre – A round of financing worth hundreds of millions of RMB and participated in Shu Sheng Technology’s Series A financing toreceiveher with companies such as Huawei and Ant Group.
Zhipu participated in Shu Sheng Technology’s Angel + round of financing worth hundreds of millions of RMB. In April 2025, Zhipu also established a strategic cooperation with Shu Sheng Technology. Zhipu’s MaaS platform has now connected to Shu Sheng Technology’s Vidu API and provides services to the public.
During the angel round of financing in June 2023, Shu Sheng Technology was valued at 100 million US dollars (approximately 690 million RMB). In subsequent financing rounds after the angel round, Shu Sheng Technology did not disclose its latest valuation.
▲ Financing history of Shu Sheng Technology (Source: Qichacha)
03
Conclusion: Leading startups in the video generation track continue to attract capital
In the past year, the video generation track has remained popular, and startups have continued to receive huge capital support. In September last year, Aishi Technology completed a Series B financing round of 60 million US dollars led by Alibaba. During the same period, Video Rebirth, a video native world model company founded by a former outstanding scientist from Tencent, also completed a 50 million US – dollar financing, revealing the market’s strong confidence in technological innovators.
However, the video generation track is also a key area for large companies to deploy. Take Keling AI under Kuaishou as an example. Its total sales in 2025 are expected to reach 140 million US dollars, and its Annual Recurring Revenue (ARR) has exceeded 240 million US dollars, revealing strong commercialization potential. Overseas, Google’s Veo series of models quickly occupied the market with their generation effects and utilizer word – of – mouth and continued to expand their influence based on its ecosystem.
Facing strong competitors, startups in the video generation field still required to answer a key question: How to build differentiated advantages in terms of technology, scenarios, or ecosystems?
This article is from the WeChat official account “Zhidx” (ID: zhidxcom), author: Chen Junda. It is published by 36Kr with authorization.
Leave a Reply