The archive · Consumer Apps · Product decision · 2023–2025
LiblibAI's model-supermarket bet: $130M B round, 4M DAU — China's top AI-app raise of 2025
LiblibAI (哩布哩布) bet Chinese creators want an open-model 'supermarket' with LoRA training and community, not closed tools; it reached 4M DAU and raised $130M.
LiblibAI (哩布哩布AI)
What the business is
LiblibAI is a Chinese AI-creation platform: a web 'model supermarket' where users generate images and video with open and closed models, train their own LoRAs, and publish or sell art and workflows, monetized through compute credits and subscriptions.
Starting capital：Oct 2025 Series B of $130M led by Sequoia China, CMC Capital and a strategic investor; four rounds closed in its first year (2024–2025), including a Giant Network-led round reported Feb 2025.
How it started
Founded May 2023 (Beijing Qidian Xingyu Tech) by Chen Mian, a former business lead at Mobike, MissFresh and ByteDance. The insight: China's open-source AI-image boom had no integrated home — users juggled desktop Stable Diffusion installs, scattered model sites and no marketplace, payment rails or pro tools.
What happened
LiblibAI closed four funding rounds in its first year. By Feb 2025 it reported 20M+ creators, 500K+ user-trained models and workflows, and 500M+ generated images, with enterprise clients like Luckin Coffee and Tsinghua University. In Oct 2025 it raised $130M in a Series B — China's largest AI-app round of 2025 — and shipped LiblibAI 2.0 with aggregated video models (Kling, Hailuo, Vidu, WAN) and professional workflows; overseas design agent Lovart reached about 200K DAU with a ~$30M annualized revenue estimate.
How it ended up
Still scaling and still loss-making (per First Financial), but it became China's largest multimodal-model creation community: 4M DAU, ~25M users, and the record B round — a signal that capital had moved from frontier foundation models to application-layer AI platforms (the round was larger than Manus's $75M April 2025 raise).
Background
LiblibAI (哩布哩布AI) is a Chinese AI-creation platform founded in May 2023 by Chen Mian, a former business lead at Mobike, MissFresh and ByteDance. Its bet was that Chinese creators would embrace an open-model 'supermarket' — aggregated image and video models, LoRA training, shared workflows and a marketplace — rather than closed tools like Midjourney or one-model apps from big companies.
The wedge was China's Stable Diffusion/LoRA hobbyist scene, which had no integrated home. LiblibAI gave it the country's largest LoRA-creator community, a web tool that runs open and closed models side by side, and rails for creators to publish and monetize their work. By February 2025 it reported more than 20 million creators, over 500,000 user-trained models and workflows, and 500 million generated images, plus enterprise clients such as Luckin Coffee and Tsinghua University.
In October 2025 LiblibAI raised $130 million in a Series B led by Sequoia China, CMC Capital and a strategic investor — the largest disclosed AI-application round in China in 2025, bigger than Manus's $75 million raise — and launched LiblibAI 2.0, adding video models (Kling, Hailuo, Vidu, WAN) and professional workflows. Its overseas design agent Lovart reached about 200,000 daily active users with a roughly $30 million annualized revenue estimate.
The company was still loss-making as of October 2025, but its scale — 4 million daily active users and about 25 million total users — marked it as China's largest multimodal-model creation community and a proof point that application-layer AI could raise more than some frontier-model consumer bets.
What has to be true
- Open-source image generation exploded in China, but creators had no integrated platform to generate, train and monetize.
- A creator community is a moat: 20M+ creators and 500K+ trained LoRAs made LiblibAI the default home for Stable Diffusion artists.
- Aggregating open and closed models let LiblibAI ride every model improvement (Midjourney, Qwen, Kling, WAN) without building its own foundation model.
- The record $130M round showed capital rotating from foundation models to the application layer in China's AI market.
What can be applied
The model is the commodity, the community is the moat: letting creators train, share and sell LoRAs turned China's Stable Diffusion scene into a 25M-user platform and 2025's biggest AI-app round.
Aftermath
As of 2026-09-02, LiblibAI remains privately held and loss-making while scaling: 4M DAU and roughly 25M total users as of October 2025, with the $130M Series B earmarked for global expansion and continued creator incentives. Its overseas design agent Lovart had about 200K DAU with an estimated ~$30M annualized revenue (First Financial). No later funding, IPO or shutdown events were verified for this case.
Sources
- 一年内完成四轮！AI图像生成平台LiblibAI再获数亿元融资
- LiblibAI融资1.3亿美金，红杉中国、CMC资本等领投
- 单笔融资额超越Manus，这家AI公司瞄向全球化
- 国内AI应用赛道最大单笔融资问世 LiblibAI完成1.3亿美元融资
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