AI Unicorn Evoken Eyes Hong Kong IPO at US$3 Billion Valuation, ARR Tops US$300 Million
AI content-technology company Evoken is considering a Hong Kong initial public offering as it nears completion of a new funding round that would value it at US$3 billion (about HK$23.4 billion). The company, founded in 2023, said its annual recurring revenue exceeded US$300 million as of May 2026. In June 2026, it raised nearly US$300 million in a Series B+ round led by Tencent, Granite Asia and Shunwei Capital, with Ant Group and Sequoia China among existing investors. Founder Chen Miansheng previously worked at ByteDance, Mobike and Didi Chuxing.
Evoken is considering a Hong Kong initial public offering (IPO). The company is close to completing a new financing round that would value it at US$3 billion (about HK$23.4 billion). In June 2026, Evoken completed a nearly US$300 million Series B+ round at a post-money valuation of more than US$2 billion (about HK$15.6 billion), co-led by Tencent, Granite Asia and Shunwei Capital, with existing shareholders Ant Group and Sequoia China adding to their investments.
Founded in 2023, Evoken is a technology company focused on AI and creative content production, with products including AI image generation platform Lovart and video generation tool LibTV. As of May 2026, its annual recurring revenue (ARR) had exceeded US$300 million.
Founder Chen Miansheng, born in the 1990s, was ByteDance's youngest 4-1 level product lead and previously worked at Mobike, Didi Chuxing and others. The company has used at least eight names in three years, including Liblib, Lovart and LibTV.
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