YanYu Technology Secures $300 Million in B+ Round Financing, Achieving $300 Million in ARR and Setting a Domestic Record for AI Applications
YanYu Technology Secures $300 Million in B+ Round Financing, Achieving $300 Million in ARR and Setting a Domestic Record for AI Applications
View OriginalIt is reported that Evoken, a domestic AI creative content group, has completed a B+ round of financing worth nearly $300 million, with a post-money valuation exceeding $2 billion, setting a new record for the highest single-round funding in China's AI application sector. This round was led by Granite Asia, Tencent, and Shunwei Capital, with follow-on investments from existing shareholders including Gaorong, Ant Group, and Sequoia Capital.
By May 2026, Evoken’s annual recurring revenue (ARR) had reached $300 million, nearly tripling since the closing of the round, matching the revenue scale of global top-tier applications such as Suno. The growth is primarily driven by LibTV, a video tool launched in March, which achieved over 13 times the revenue of its first month by May.
Disclaimer: Contains third-party opinions, does not constitute financial advice
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