Chinese AI startup Evoken, based in Beijing and Shanghai and behind AI design agent Lovart, is considering a Hong Kong initial public offering as it nears a funding round valuing it at about US$3 billion, according to people familiar with the matter.

The company is in early talks with advisers and has not made a final decision on a listing, the people said.

In June, Evoken said it raised nearly US$300 million in a series B+ round at a post-money valuation above US$2 billion from investors including Granite Asia, Shunwei Capital, and existing backers Ant Group and HSG.

Lovart launched publicly on July 28 after an 800,000-person waitlist, and the company said its beta version had 300,000 early users.

Evoken said it surpassed US$300 million in annualized recurring revenue as of May. It also develops video-generation tool LibTV.

🔗 Source: Bloomberg