MiniMax Raises $600 million Series B

MiniMax raised $600M in Series B financing led by Various Chinese, with participation from HongShan, Hillhouse Capital. Chinese multimodal AI lab — video and audio generation. The new capital is framed around Expand multimodal AI for video, audio, and interactive media.

What it does

Chinese multimodal AI lab — video and audio generation. The business sits in AI & Machine Learning, where funded companies are using fresh capital to deepen product coverage, distribution, or operating capacity.

Traction

Hailuo video generator reaches 10M users in first month. Management framed the new capital around Expand multimodal AI for video, audio, and interactive media.

Trend impact

Chinese multimodal AI competing with US labs on video generation. The capital raise matters because it gives the company more room to compete for customers, talent, and mindshare while incumbents and adjacent startups respond with clearer product depth or distribution.

Funding history

• February 1, 2024 · Series B · $600 million · HongShan, Hillhouse Capital
• September 1, 2023 · Series A · $250 million · HongShan

Products & services

• AI & Machine Learning workflow monitoring tied to the funding announcement
• Customer-facing product described on the company website
• Operational tooling for ai & machine learning teams
• Data capture and reporting across core business processes
• Team expansion support funded by the latest round