Key information
Butterfly Effect, the parent company of Chinese AI lab Manus, announced on Thursday that it successfully raised over $500 million. This marks the startup's first major funding round since the collapse of its planned $2 billion acquisition by Meta.
The investment was led by Boyu Capital and IDG Capital, with participation from existing backers including Tencent, HSG, and ZhenFund. While the company did not officially disclose its current valuation, reports from last month suggested it was seeking funds at a $4 billion valuation.
Manus specializes in AI agents and tools comparable to those from Replit or Cursor, enabling users to generate designs, websites, and videos. The firm recently launched Manus 2.0 and a standalone application called Cue, which provides AI agents with dedicated digital wallets, email addresses, and phone numbers to perform tasks.
The startup previously relocated to Singapore before Chinese authorities mandated the cancellation of the Meta deal in April due to concerns regarding AI talent migration. Following the split, Manus resumed independent operations in August and is reportedly exploring a potential public offering in Hong Kong.
