The Chinese AI application layer competition has seen a new benchmark. Evoken, the parent company of Liblib, recently completed a $300 million Series B+ round, with a post-money valuation exceeding $2 billion. This round was led by Granite Asia, Tencent, and Shunwei Capital, with participation from HT Investment and Time Capital, and continued investment from existing shareholders such as Gao Rong Capital and Ant Group.
This is the second major funding round for Evoken within 8 months, with a total funding of over $500 million. Investors almost cover all leading domestic technology capital. As of May 2026, the company's Annual Recurring Revenue (ARR) has exceeded $300 million, with a year-over-year increase in overall group revenue of more than 300% in May, and the core revenue mainly comes from real budgets of professional content producers in short dramas, films, and advertising.
As the first AI application company in China to move from single-point breakthroughs to a group structure, Evoken has built three core product lines around professional production scenarios: the AI image creation community LiblibAI, which has over 30 million users and has accumulated 500,000 original models; the AI video creation platform LibTV, which saw daily revenue exceed one million US dollars in its first month and serves nearly 1,000 teams; and the AI design Agent "Xingliu" with over ten million users.
These three platforms are organically connected to form a complete AI content chain from material, production to delivery. In the global AI content sector, Evoken's ARR of over $300 million has placed it among the top global players such as Runway and ElevenLabs. Its cross-scenario integration capabilities have broken through the limitations of single-track overseas tool companies. This indicates that the AI content sector is accelerating from merely "comparing generation quality" into the deep waters of "comparing workflow production chains." Evoken's unexpected growth provides a highly valuable Chinese model for the commercialization of AI applications worldwide.
