AI coding application powered by MiniMax models.
MiniMax Funding History
MiniMax develops foundation models and AI applications across language, video, speech and music. The Shanghai company combines consumer products with developer APIs and listed on the Hong Kong Stock Exchange in January 2026, following several private financing rounds documented in its prospectus.
Company Overview
MiniMax
Founded 2022 · Shanghai, China
Official WebsiteMiniMax Funding Timeline
IPO
HK$4.82 billion
Pricing announcement; IPO proceeds, not a VC round. Listed January 9, 2026. Reported offering figure may differ from base shares before offer-size adjustments.
Source · streetinsider.com ↗Pre-IPO Financing
The prospectus records the last share purchase agreement date, consideration received and post-money valuation for each round. Final payment milestones are shown within the corresponding round.
Pre-IPO financing Agreement date Round Amount Valuation Investors and milestones Aug 16, 2025 Pre-Series B++ $390.4M $4.24B Round context
The last share purchase agreement for this round was dated 2025-08-16. The prospectus reports its post-money valuation and total consideration received.
- Payment milestone · Aug 19, 2025 · Full consideration paid.
Dec 4, 2024 Pre-Series B+ $123.5M $3.12B Round context
The last share purchase agreement for this round was dated 2024-12-04. The prospectus reports its post-money valuation and total consideration received.
- Payment milestone · Jun 20, 2025 · Full consideration paid.
Mar 15, 2024 Pre-Series B $654M $2.55B Round context
The last share purchase agreement for this round was dated 2024-03-15. The prospectus reports its post-money valuation and total consideration received.
- Payment milestone · Feb 19, 2025 · Full consideration paid.
Jul 6, 2023 Series A+ $50M $1.6B Round context
The last share purchase agreement for this round was dated 2023-07-06. The prospectus reports its post-money valuation and total consideration received.
- Payment milestone · Jul 13, 2023 · Full consideration paid.
May 4, 2023 Series A $257M $1.16B Round context
The last share purchase agreement for this round was dated 2023-05-04. The prospectus reports its post-money valuation and total consideration received.
- Payment milestone · Dec 14, 2023 · Full consideration paid.
Mar 29, 2022 Pre-Series A $50M $550M Round context
The last share purchase agreement for this round was dated 2022-03-29. The prospectus reports its post-money valuation and total consideration received.
- Payment milestone · Apr 11, 2022 · Full consideration paid.
Dec 2, 2021 Angel $31M $200M Round context
The last share purchase agreement for this round was dated 2021-12-02. The prospectus reports its post-money valuation and total consideration received.
- Payment milestone · Dec 27, 2021 · Full consideration paid.
MiniMax Founding Team
Yan Junjie leads MiniMax’s model research and company strategy. The company combines foundation-model development with teams building consumer applications and enterprise developer services.
MiniMax Company Development
Applications Grew Alongside the Model Portfolio
MiniMax’s prospectus links successive private rounds to product milestones: early language models and an initial API customer, followed by Talkie and Xingye, video generation through Hailuo, speech tools and an agent application. Its growth strategy has combined model development with consumer distribution.
Private Financing Gives Way to a Public Listing
The prospectus discloses seven pre-IPO financing stages, using labels from Angel through Pre-B++. MiniMax subsequently priced its IPO at HK$165 per share and began trading in Hong Kong on January 9, 2026 under stock code 0100. The IPO belongs in its public-capital history, separately from private venture rounds.
A Wider Portfolio Targets Developers and Creative Work
The current company site features language, video, speech and music models. Its application portfolio now includes MiniMax Code, MiniMax Design, MiniMax Audio and Talkie, alongside an Open API Platform serving enterprises and developers.
FAQ
Who founded MiniMax?
Yan Junjie is identified in MiniMax’s prospectus as central to founding the company and leads its research and development as CEO.
When did MiniMax go public?
MiniMax began trading on the Hong Kong Stock Exchange on January 9, 2026, under stock code 0100.
What does MiniMax build?
It develops language, video, speech and music models and operates applications such as MiniMax Code, MiniMax Audio and Talkie.
Is MiniMax only a video-generation company?
No. Video is one part of its business; the company also supplies language and audio models, productivity applications and developer APIs.
Why do the private round names differ from some news reports?
The financing history here follows the issuer’s prospectus labels and amounts received. Its agreement dates can differ from press announcement dates.