Manus is seeking $500 million at a $4 billion valuation, TechCrunch and Forkast reported, both citing Bloomberg. The round would roughly double the $2 billion mark the company was held at after unwinding a planned acquisition by Meta.
Meta agreed to acquire Manus for about $2 billion in December 2025, but China's National Development and Reform Commission blocked the deal in early 2026 over export-control and foreign-investment concerns, according to both outlets. Manus's founders and early investors bought back Meta's stake at the unchanged $2 billion valuation to complete the separation, which finished in May.
Potential investors in the new round include IDG Capital, Boyu Capital and battery maker Contemporary Amperex Technology, alongside existing backers Tencent, HongShan and ZhenFund, with Tencent reportedly in talks to become the largest shareholder, Forkast reported.
At $4 billion, Manus would be the most valuable AI agent startup in China, ahead of rival Evoken, maker of design agent Lovart, which is reportedly raising at about $3 billion, according to Forkast.
A blocked acquisition that forced a company back into independent operation, followed by a fundraise at double its old valuation, is a case study in how little a regulatory veto has to cost a startup if the underlying product still has demand behind it.