Startups

Manus is back on its own — and investors just backed that bet with a very large check.

Butterfly Effect, the parent company of AI agent startup Manus, said Thursday it has completed a funding round of more than $500 million, according to Reuters. The round was co-led by Boyu Capital and IDG Capital, with existing investors Tencent, HSG (formerly Sequoia China), and ZhenFund participating. The company did not disclose a valuation; Bloomberg had previously reported Manus was targeting roughly a $4 billion valuation.

French AI lab Mistral has launched Mistral Large 4, a 1.05-trillion-parameter natively multimodal model the company has nicknamed "le Chonk," now available in public preview via API. Open weights are promised by the end of October, after a red-teaming phase.

British quantum computing company Universal Quantum has raised more than $100 million in a Series A round the company describes as the largest ever secured by a UK-headquartered quantum firm. The round was co-led by Silicon Valley's DCVC and the quantum-focused Firgun Ventures, with participation from EDBI, Main Sequence, Hostplus, Integral GlobalTech, and Roblox founder Dave Baszucki, among other investors.