Manus Eyes $4B Valuation in $500M Funding Round

Manus is back on the market, and this time Meta isn't in the picture. The Chinese AI startup is in talks to raise $500 million at a $4 billion valuation, according to The Wall Street Journal, which cited unnamed sources familiar with the discussions. IDG Capital, Boyu Capital and battery maker Contemporary Amperex Technology are said to be weighing investments, alongside existing backers Tencent, HSG and Zhenfund. The company is also reportedly considering a restructuring move to position itself for a Hong Kong IPO.

The valuation swing tells its own story. Manus went viral last year on the strength of an AI agent demo, then relocated staff to Singapore in mid-2025 while pulling in more than $100 million in annual recurring revenue. That momentum led to a $2 billion acquisition agreement with Meta in December.

Beijing blocked it, flagging concerns about export controls and foreign investment rules amid broader anxiety over AI talent leaving China for the West. Manus has spent months since then unwinding the deal, with early investors reportedly helping it buy back shares at roughly $2 billion. Now it's trying to double that figure on its own.