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AI & Enterprise

AI agent startup Manus raises $500 million in first funding round after split with Meta

AI agent startup Manus raised more than $500 million in its first funding round since splitting with Meta, CNBC reported. The round for parent company Butterfly Effect was led by private equity firm Bow Capital and venture investor IDG Capital, with follow-on investment from existing shareholders Tencent, HSG and ZhenFund. Butterfly Effect did not disclose its post-money valuation. Bloomberg reported last month it may target a $4 billion valuation.

AI & Enterprise

Manus in talks to raise $500 million after Meta merger deal falls through

Chinese AI startup Manus is seeking to raise $500 million at a valuation of $4 billion after a deal to be sold to Meta fell through. TechCrunch reported potential participants include IDG Capital, Bowy Capital, battery maker CATL and existing investors Tencent, HSG and ZhenFund. The company is also considering restructuring to prepare for a Hong Kong initial public offering. Meta had announced a $2 billion acquisition last December.

Industry

China\'s auto industry bets on humanoid robots as next growth engine, following Tesla

Chinese automakers are stepping up investment in humanoid robots as a next-generation profit business, seeking new revenue as electric-vehicle profitability declines. Xpeng\'s robotics unit raised more than $900 million at a valuation above $6.3 billion, with investors including IDG Capital, Gaorong Ventures, Tencent and Alibaba. Analysts say China has an edge in manufacturing and supply chains, but AI will determine competitiveness against Tesla. Global automakers are also expanding robot efforts.