Chinese AI Startup Manus Raises Over $500M in First Funding Round Since Split with Meta
Manus, a Chinese artificial intelligence startup and former acquisition target of Meta, has raised over $500 million in its first funding round since the collapse of a proposed $2 billion deal. The investment was led by Boyu Capital and IDG Capital, with participation from existing shareholders like Tencent and Sequoia China (HSG). Manus' parent company, Butterfly Effect, announced the fundraising via WeChat on Thursday. The startup is reportedly in talks to raise funds at a valuation of $4 billion. After relocating its staff to Singapore earlier this year, Meta's acquisition was halted by Chinese authorities due to concerns over AI talent and data security. Manus has since resumed independent operations and may consider an initial public offering (IPO) on the Hong Kong stock exchange. Manus is known for developing AI agents that allow users to build apps, generate video content, create designs, and more. The company recently launched its 2.0 version with new tools like Cue, which enables personal AI agents to have email addresses, phone numbers, digital wallets, and computers.
Topics: AI China AI Regulation Meta Acquisition Startup Funding