AI startup Manus raises over $500 million following Meta split
Following the cancellation of Meta's acquisition process and the return to independent operations, Butterfly Effect's Manus has completed a major funding round.
Butterfly Effect, the parent company of AI startup Manus, announced that it has completed a funding round of more than $500 million after returning to independent operations following the cancellation of Meta's acquisition deal worth over $2 billion.
Details of the Investment Round
The funding round was co-led by Boyu Capital and IDG Capital, with participation from existing investors Tencent, HSG, and ZhenFund.
Manus's AI Operations
Manus develops general-purpose artificial intelligence agents capable of autonomously performing tasks such as research and automation with minimal human intervention.
The Meta Acquisition Cancellation Process
In April, Beijing ordered Meta to divest Manus as the U.S. tightened investments in Chinese startups developing advanced artificial intelligence technologies.
Manus announced in August that it would continue operating as an independent company and would delete certain user data as part of the process of parting ways with Meta.
Revenue Growth and Future Plans
According to a report by The Information in June, Manus's annualized revenue run rate increased from around $100 million at the time of its acquisition by Meta to approximately $500 million.
According to a source familiar with the matter, Manus is evaluating a joint venture structure to be established in China, but will not initiate an initial public offering (IPO) in Hong Kong until 2027.