China's AI lab Manus raises over $500M in first funding round since Meta split
Chinese AI lab Manus' parent company, Butterfly Effect, announced on Thursday it has raised more than $500 million. Boyu Capital and IDG Capital led the round, with existing shareholders Tencent, HSG (formerly known as Sequoia China), and ZhenFund also participating. This marks the company's first funding round since Chinese authorities ordered it to unwind a $2 billion acquisition deal with Meta in April. Manus resumed independent operations in August and is reportedly considering a public listing in Hong Kong.
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