AI Startup Manus Raises $500 Million After China Nixed Meta’s $2 Billion Acquisition
Manus built a self-driving AI assistant before the hype, sold itself to Meta, then watched Beijing unwind the deal. Its first fresh money since: more than $500 million.
Butterfly Effect, the parent company of AI startup Manus, has raised over $500 million in a funding round. This is the company's first fresh funding since the Chinese government blocked Meta's $2 billion acquisition of Manus. According to TechCrunch, Boyu Capital and IDG Capital led the funding round, with existing shareholders including Tencent, HSG, and ZhenFund also participating.
Manus had previously built a self-driving AI assistant and was acquired by Meta, but the deal was later unwound by Chinese authorities. The company relocated its staff to Singapore and resumed independent operations in August. At the time of the Meta deal, Manus was reportedly generating annual recurring revenue of over $100 million.
The company's valuation is not disclosed, but TechCrunch reports that it was in talks with investors to raise $500 million at a $4 billion valuation last month. Manus plans to continue hiring both domestically and internationally.
Brief written by urgent.news from Decrypt, PYMNTS, TechCrunch — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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