Chinese AI Startup HiDream Raises $222M in Series C on July 27

Beijing-based HiDream.ai, which develops visual multimodal foundation models for creative work, raised 1.5 billion yuan (US$222 million) in a series C round on July 27, according to the company statement. The round was co-led by the National Social Security Fund Sichuan Revitalization Sci-Tech Innovation Fund, ICBC Capital, Hongyi Asset Management, and Dunhong Capital. The company plans to use the funds to develop native omni-modal world models and expand its product and commercial ecosystem.

Founded in 2023, HiDream.ai has raised over 2.1 billion yuan (US$310 million) in the past three months. New investors include Shanghai Film New Vision Fund and Huace Film & TV.