AI Startup Manus Seeks $500 Million Round, Weighs Hong Kong IPO

Manus, a Chinese startup building AI agents, is seeking to raise $500 million and has discussed a potential initial public offering in Hong Kong, the Wall Street Journal reports.

The fundraising target ranks among the larger private financing rounds for China's AI sector this cycle. According to the Journal's reporting, the company has held talks with investors about the capital raise and has separately weighed listing its shares in Hong Kong.

Manus builds autonomous AI agents — software designed to carry out multi-step tasks on a user's behalf rather than simply answer prompts. The startup drew global attention after its agent product launched earlier this year, producing weeks of buzz across tech circles and prompting comparisons to earlier viral consumer AI releases.

The reported figures signal investor appetite remains strong for China's AI agent segment even as geopolitical and capital-market pressures complicate the funding environment for Chinese technology firms. A $500 million round would give Manus fresh resources to expand compute capacity, hire engineering talent, and compete with both domestic rivals and international entrants racing to commercialize agentic AI.

The Hong Kong IPO deliberations add a second strategic track. A listing in the city would give Manus access to a liquid public market without the regulatory friction Chinese firms face when listing in the United States. Hong Kong has attracted a growing queue of mainland tech companies seeking public capital.

Neither outcome is finalized. Companies weighing dual-track processes frequently pursue the private round while keeping the listing option open, and terms of Manus's raise — including valuation and lead investors — have not been disclosed.

The talks come as competition in AI agents intensifies globally, with major labs and startups alike shipping products that automate complex workflows. If Manus closes the round at its reported target, it would secure one of the largest private financings in the Chinese AI ecosystem this year and strengthen its position ahead of any public listing decision.