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Butterfly Effect, the parent company of Chinese AI lab Manus, said it raised more than $500 million in a funding round led by Boyu Capital and IDG Capital, with participation from existing backers including Tencent, HSG (formerly Sequoia China) and ZhenFund. This is Manus’ first financing since a planned $2 billion acquisition by Meta was halted earlier this year after Chinese authorities intervened.
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