Evoken

AI Agents · Generative AI · China Tech

Funding

China's Lovart maker Evoken reportedly nears $3B valuation, weighs HK IPO

The AI design-agent startup's rapid valuation climb shows investors racing to back China's next Manus-style breakout.

• Evoken, the Chinese startup behind AI design agent Lovart, is reportedly close to a funding deal valuing it at $3 billion while also exploring a Hong Kong IPO, according to Bloomberg.
• Founded in 2023, Evoken runs a suite of AI creation tools including LiblibAI, LibTV and Xingliu, covering AI image generation, design and video creation.
• In June 2026 Evoken closed a roughly $300M Series B+ round at a post-money valuation above $2 billion, with backers including Tencent, Ant Group, Granite Asia, Shunwei Capital and Sequoia China.
• The company's annual recurring revenue had already surpassed $300 million as of May 2026, underpinning its rapid valuation climb.
• Evoken's founder, Chen Mian, is a former ByteDance product lead who also worked at Mobike and Didi; the company has rebranded at least eight times in three years, from Liblib to Lovart to LibTV.
• The near-tripling of Evoken's valuation within weeks reflects surging investor demand for Chinese AI agent startups following Manus's breakout success, fueling a wave of Hong Kong-bound tech listings.