Manus Parent Raises More Than $500 Million as IPO Weighed
Butterfly Effect is weighing a Hong Kong IPO and targeting a valuation of about $4 billion after the funding round.
Key takeaways
- Butterfly Effect raised more than $500 million in a funding round led by Boyu Capital and IDG Capital.
- The company is considering a Hong Kong listing and aims for a valuation of about $4 billion.
Manus's parent company, Butterfly Effect, raised more than $500 million in a funding round, according to Ekonomim. Boyu Capital and IDG Capital led the round, which also included Tencent, HSG and ZhenFund.
The company is considering a Hong Kong listing and aims for a valuation of about $4 billion. Ekonomim said Butterfly Effect began operating under an independent structure on Sept. 1, after adjusting its mainland China operations to meet regulatory requirements.
The funding follows Meta's earlier acquisition attempt, which was canceled amid regulatory obstacles and an instruction from Beijing, Ekonomim reported. Manus launched its Manus 2.0 and Cue applications last month and is hiring in Beijing for research, development and operations roles.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
