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Liblib Secures Major Funding Boost with $300 Million Investment, Pushing Company Valuation Above $2 Billion
The Chinese AI application layer competition has set a new benchmark. Liblib’s parent company, Evoken, recently closed a $300 million Series B+ financing round, bringing its post-money valuation above $2 billion. This funding cycle was led by Granite Asia, Tencent, and Shunwei Capital, with participation from HT Investment and Time Capital, alongside continued investment from existing shareholders such as Gao Rong Capital and Ant Group.
This marks the second major funding round for Evoken in just eight months, bringing its total raised capital to over $500 million. The investors involved represent almost all of the leading domestic technology investment firms. As of May 2026, the company’s Annual Recurring Revenue has surpassed $300 million, with overall group revenue growing by more than 300% on a year-over-year basis that month. A significant portion of this revenue comes from orders placed by professional content creators working on short dramas, feature films, and advertising campaigns.
As the first AI application company in China to transition from individual technological breakthroughs to a structured corporate framework, Evoken has developed three core product lines tailored for professional production needs. The first is LiblibAI, an AI image creation platform that boasts over 30 million users and has accumulated more than 500,000 original models. The second is LibTV, an AI video creation tool that generated daily revenue of over one million US dollars within its first month and serves nearly 1,000 different teams. Finally, there’s the AI design Agent “Xingliu,” which has attracted more than ten million users.
These three platforms work together to create a seamless AI content ecosystem that covers everything from content creation to distribution. With an Annual Recurring Revenue of over $300 million, Evoken now ranks among the top players in the global AI content space alongside companies such as Runway and ElevenLabs. Its ability to integrate various functions across different use cases allows it to overcome the limitations faced by many overseas tools that focus on just one specific task. This development signals that the AI content industry is shifting from simply comparing generation quality to evaluating entire workflow production chains. Evoken’s rapid growth offers a valuable Chinese model for advancing the commercialization of AI applications worldwide.
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The Chinese AI application layer competition has set a new benchmark. Liblib’s parent company, Evoken, recently closed a $300 million Series B+ financing round, bringing its post-money valuation above $2 billion. This funding cycle was led by Granite Asia, Tencent, and Shunwei Capital, with participation from HT Investment and Time Capital, alongside continued investment from existing shareholders such as Gao Rong Capital and Ant Group.
This marks the second major funding round for Evoken in just eight months, bringing its total raised capital to over $500 million. The investors involved represent almost all of the leading domestic technology investment firms. As of May 2026, the company’s Annual Recurring Revenue has surpassed $300 million, with overall group revenue growing by more than 300% on a year-over-year basis that month. A significant portion of this revenue comes from orders placed by professional content creators working on short dramas, feature films, and advertising campaigns.
As the first AI application company in China to transition from individual technological breakthroughs to a structured corporate framework, Evoken has developed three core product lines tailored for professional production needs. The first is LiblibAI, an AI image creation platform that boasts over 30 million users and has accumulated more than 500,000 original models. The second is LibTV, an AI video creation tool that generated daily revenue of over one million US dollars within its first month and serves nearly 1,000 different teams. Finally, there’s the AI design Agent “Xingliu,” which has attracted more than ten million users.
These three platforms work together to create a seamless AI content ecosystem that covers everything from content creation to distribution. With an Annual Recurring Revenue of over $300 million, Evoken now ranks among the top players in the global AI content space alongside companies such as Runway and ElevenLabs. Its ability to integrate various functions across different use cases allows it to overcome the limitations faced by many overseas tools that focus on just one specific task. This development signals that the AI content industry is shifting from simply comparing generation quality to evaluating entire workflow production chains. Evoken’s rapid growth offers a valuable Chinese model for advancing the commercialization of AI applications worldwide.
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