Chinese AI lab Manus' parent company, Butterfly Effect, said on Thursday in a WeChat post that it has raised more than $500 million, the company's first funding round since Meta was forced to call off its $2 billion acquisition of the startup. Boyu Capital and IDG Capital led the funding round, and existing shareholders Tencent, HSG (formerly known as Sequoia China), ZhenFund and others also participated. The AI company said it will continue hiring both at home and abroad. Manus did not disclose its valuation, but it was last month said to be in talks with investors to raise $500 million at a $4 billion valuation.
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