Artificial intelligence startup Manus is raising money after it severed ties with Meta Platforms and is exploring future fundraising options including a public share listing, according to people familiar with the matter.
The company is in talks with prospective investors including investment firms IDG Capital and Boyu Capital to raise some $500 million in a funding round that would value it at around $4 billion, the people said.
Chinese battery maker Contemporary Amperex Technology has also held talks with Manus for investing in the startup, some of the people said.
Existing backers including Tencent, HSG and ZhenFund are considering participating in the round, some of the people said.
The company, currently with operations primarily in Singapore, is exploring a restructuring to pave the way for a potential initial public offering in Hong Kong, some of the people said. They said the talks were preliminary.
Manus recently resumed independent operations after Beijing ordered the startup to unwind its acquisition by Meta, the parent company of Facebook. Meta acquired Manus last December for more than $2 billion, but the deal quickly raised concerns in Beijing and was later blocked by Chinese regulators on national-security grounds.
Manus, founded by Chinese entrepreneurs, has developed an AI agent that can carry out sophisticated tasks such as writing in-depth research reports and preparing presentation slides. Early versions of the Manus agent were created by engineers based in China. Last year, Manus relocated most of its China-based employees to Singapore after receiving investment from a California-based venture-capital firm.
To unwind the deal with Meta, Manus's founders and early backers-including Tencent, HSG and ZhenFund-bought back shares from Meta at a valuation of around $2 billion, people familiar with the matter said. The transaction elevated Tencent to become Manus's largest external shareholder, the people said.
The company is attracting renewed interest from investors drawn to its growth prospects. The company is tapping open-weight models and post-training techniques to improve its product, people familiar with the matter said.
Manus didn't reply to requests for comment.
Bloomberg earlier reported some details of Manus's latest financing round.
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