AI agent startup Manus has raised more than $500 million in its first funding round since Meta was forced to abandon its acquisition of the company.
Butterfly Effect, Manus' parent company, said Thursday that the round was led by private equity firm Boyu Capital and venture investor IDG Capital, with follow-on investment from existing shareholders Tencent, HSG and ZhenFund.
The company did not disclose its post-funding valuation. Bloomberg reported last month that Manus was set to double its valuation to $4 billion in this financing round, making it the country's most valuable AI agent maker.
The raise suggests investors aren't deterred by Beijing's unprecedented order to block Meta's short-lived $2 billion acquisition. Meta was working to integrate Manus' team and technology into its system when authorities blocked the deal. It also shows that appetite for AI-agent startups has held up, even as the underlying foundation models improve quickly and price competition intensifies.
"The fundraising shows that the short-term fallout of the Meta case has been contained and investors are willing to back Manus as an independent company," said Dan Wang, China director at Eurasia Group, also noting the renewed confidence in the commercial potential of AI agents.