Minimax / Hailuo AI — Funding & Company Data

MiniMax's funding trajectory is a case study in rapid, strategic capitalization within China's competitive AI landscape. Starting with a solid $31M seed round, the company quickly attracted China's tech titans, securing a $250M Series A from Tencent and a massive $600M Series B led by Alibaba. This backing from rival giants is a strong indicator of MiniMax's perceived technological lead and market potential, effectively making it a well-supported neutral player.

The subsequent $300M round in mid-2025, notably including a state-owned entity, underscores the company's strategic importance to China's national technology ambitions. This blend of private and state capital provides both commercial agility and political backing. The capstone of this pre-public journey was the successful $619M IPO in Hong Kong in January 2026, which was priced at the top of its range, reflecting high investor demand.

This aggressive funding strategy has given MiniMax a formidable war chest, essential for the capital-intensive work of training frontier AI models. It allows the company to compete directly with global leaders in the multimodal AI space. For users, this financial foundation translates into a high probability of product longevity and continuous improvement, as the company has ample resources to fund its ambitious roadmap for models like Hailuo AI.