MiniMax is a Chinese AI startup that focuses on computer vision and is developing ChatGPT-like generative services. The company was founded two years ago. It is in an active fundraising process and has already attracted significant capital from major investors. To date MiniMax has received financing from Alibaba and other investors totaling more than $2.5 billion. The current round is being led by Alibaba and is notable within the industry. MiniMax competes with other generative-AI players such as Moonshot AI in building conversational AI offerings. MiniMax (名之梦) is a next-generation AI company that places large foundation models at the center of its R&D. The firm has built a base-model architecture covering three modalities: text-to-visual, text-to-audio and text-to-text. Its first self-developed product, Glow, launched in November 2021 as an emotional-companionship social app with free chat and storyline task modes and has nearly millions of registered users. MiniMax was founded in 2021 by former SenseTime employees including former SenseTime VP and research deputy director Yan Junjie. Early investors include miHoYo, Yunqi Capital and MingShi Capital. Following a recent strategic investment, the company’s valuation is reported to reach about $1.2 billion.

Total raised

$850M

Funding rounds

2

Latest round

Equity

Latest activity

Mar 2024