LiblibAI Announces Tens of Millions in New Financing

Gunderson Dettmer represented client LiblibAI, a China-based AI image generation platform, in its tens of millions financing led by Ince Capital, setting a record in China's AI application sector. The latest two rounds of financing were led by INCE Capital and Shunwei Capital, with over-subscription from Future Capital and other existing shareholders, and Giant Network acting as the industrial investor in this round.

Founded in May 2023, LiblibAI enables cutting-edge content creation through multi-scenario and multi-dimensional applications and interactions. The new funding will support the enhancement of creator ecosystems, research and development, and AI-driven creative infrastructure, further strengthening technology and user experience.

In the announcement of the transaction, INCE Capital founding partner Stella Zhou said, “As the largest professional image generation modeling community in China, LiblibAI has established a good reputation in the industry with its open data ecosystem and excellent core competitiveness. With the team's top technical R&D strength and community operation capability, the dual-core drive makes LiblibAI stand out in the fierce market competition. We have confidence in the future of LiblibAI, and believe that they can continue to play to their strengths, based on China's designer ecosystem, integrate global model supply chain resources, and empower more content creators with the power of AI.”

The Gunderson Dettmer deal team was led by Zhen Liu and included Huhui Cai and Chen Gao.