MiniMax intends to acquire AI video startup Luying Technology

According to Blue Whale News exclusive information, artificial intelligence video startup Luying Technology (Avolution.ai) may be acquired by well-known artificial intelligence company MiniMax . According to several people familiar with the matter, the two parties have reached preliminary intentions for the acquisition and the relevant process is in progress. As of press time, MiniMax has not responded to this news.

It is reported that Luying Technology's valuation during its angel round financing in 2024 was about RMB 100 million, less than US$20 million . People familiar with the matter said that Luying Technology's pursuit of a second round of financing has not been smooth since last year, and its technological accumulation in the field of AI video ultimately led to cooperation with MiniMax, which is considered a win-win option.

Public information shows that Luying Technology was established in September 2023 , focusing on building an AI video generation and creation platform based on self-developed LCM visual models . In August 2024, Luying Technology received an angel round investment from Lanchi Venture Capital and Red Dot China. In July of the same year, the company launched YoYo, a two-dimensional animation AI video generation platform , where users can quickly generate animation videos through text or pictures.