Butterfly Effect, parent of the AI agent startup Manus, said it raised more than 500 million dollars after Beijing ordered Meta to unwind a deal valued at more than 2 billion dollars.
Butterfly Effect, the parent of AI startup Manus, said on Thursday it had completed a funding round of more than 500 million dollars, Reuters reported. The firm said it had resumed independent operations after unwinding Meta's acquisition, which Reuters valued at more than 2 billion dollars.
The round was co-led by Boyu Capital and IDG Capital. Existing investors Tencent, Sequoia China and ZhenFund also participated, Reuters said. Manus builds general-purpose AI agents meant to carry out tasks such as research and automation with limited human input.
Reuters said Beijing ordered Meta in April to unwind the acquisition amid tighter scrutiny of US investment in Chinese startups working on advanced AI. Manus said in August it would operate independently again and delete some user data as part of the separation from Meta.
The Information, cited by Reuters, reported in June that Manus's annualised revenue run rate had risen to about 500 million dollars from 100 million dollars when Meta acquired it, and that the firm was considering a joint venture incorporated in China that could lead to a Hong Kong listing. Those figures were not restated as Thursday's company guidance.
The new development is the completed funding round after the ordered unwind. Reuters did not give a post-money valuation or a listing timetable.