Code Moment | Evoken Closes Nearly $300 Million Series B+ Round, Existing Shareholder Source Code Capital Continues to Double Down

MaHui portfolio company Evoken has raised nearly $300 million in a Series B+ round, valuing the company at over $2 billion post-money. The round was co-led by Granite Asia and Shunwei Capital, with participation from HT Investment and Jeneration Capital. Source Code Capital, Gaorong Ventures, Ant Group, Zhence Capital, Future Capital, HSG, and several other well-known institutional investors all continued to increase their stakes.

The round closed earlier this year. Since then, the company has maintained rapid growth. As of May 2026, Evoken's ARR has exceeded $300 million — nearly triple where it stood when the round closed. Over the past twelve months, the company has repeatedly found product-market fit across multiple AI products, expanding from a single-product business to a multi-business platform. Its AI video creation platform LibTV launched in March 2026 and grew quickly: May revenue was more than 13x its first-month revenue. In May 2026, group-wide revenue grew more than 3,000% year-over-year.

Over the past year, rapid advances in multimodal models have pushed AI creation tools to mature and use cases to expand. As more creators and enterprises integrate AI into their actual workflows, creative production has become one of the fastest areas for AI adoption. Evoken has long focused on creative content production, building a product matrix spanning AI images, design agents, and video creation to continuously explore the real needs of creators and enterprise users, while deeply integrating cutting-edge model capabilities with professional creative scenarios. As AI becomes embedded throughout the creative process, the company is working to build the content infrastructure for the AI era — covering the full creative production chain.

Following this round, Evoken will continue to increase R&D investment and global market expansion, driving upgrades to its AI creative products and expanding its product matrix to strengthen competitiveness and user reach worldwide, serving more creators and enterprise users.