Chinese AI Startup Manus Raises $500 Million Following Meta Deal Collapse
Following the cancellation of a planned acquisition by Meta, Chinese artificial intelligence startup Manus has secured over $500 million in its first funding round.
Butterfly Effect, the parent company of China-based artificial intelligence firm Manus, announced that it has secured over $500 million in financing during its first investment round held after Meta abandoned a $2 billion acquisition attempt.
Details of the Funding Round
Led by Boyu Capital and IDG Capital, the funding round also saw participation from existing shareholders such as Tencent, HSG, and ZhenFund. The company stated that it will continue recruitment efforts both domestically and internationally.
Meta Acquisition Process and Aftermath
Having announced a $2 billion acquisition agreement with Meta last December, the startup returned to independent operations in April after Chinese authorities requested the termination of the deal due to concerns over brain drain.
Product Development and New Technologies
Developing artificial intelligence products, the company recently released Manus 2.0 with a new architecture and introduced the Cue application, which offers individual AI assistants to users.