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Multiple insiders have confirmed that the AI video startup, ‘Avolution.ai,’ will be purchased by MiniMaxThe two parties have already finalized their acquisition intention and the related process continues. MiniMax had not responded as of the publication date.
Avolution.ai’s valuation in 2024, at the time it was at the angel investing stage, did not exceed $20 Million USD, or approximately 100 million RMB.
Avolution.ai, according to insiders, has been seeking a second round financing since last year. However, the process has not been easy. The team has some experience with AI video technology, and chose to work with MiniMax out of mutual benefit.
Avolution.ai, a platform for AI video creation using visual models based on LCMs that it developed itself, was founded in September of 2023. Avolution.ai received angel investment from LanchiVC, Redpoint China Ventures in August 2024.
Avolution.ai released a two-dimensional AI video creation platform, YoYo, in July 2024. Users can enter text descriptions or images for quick creation of high-quality animation content.
All members of the founding team at Avolution.ai have graduated from prestigious universities. Dr. Huang Zhaoyang, CEO and founder of Avolution.ai, graduated from Hong Kong Chinese University in Electronic Engineering. He also holds master’s and undergraduate degrees from Zhejiang University. He worked at SenseTime and NVIDIA before starting the company. Li Qian, COO/CFO, holds a Master of Financial Policy from the University of Chicago. He has worked for GP Capital, China Galaxy Securities and Baidu Finance. CTO Wang Chaoqi has a Ph.D. from the University of Chicago in Computer Science and worked previously at Google Brain Research Institute.
MiniMax’s layout has been greatly aided by the acquisition of Avolution.ai in the area of video generation models.
SEE ALSO: MiniMax Unveils Open-Source AI Models Featuring Lightning Attention for Ultra-Long Contexts
Hai Luo AI has consistently ranked first in global traffic rankings since the launch of its video production feature under MiniMax. Hai Luo Video is ranked 12th in a16z’s list of the Top 100 Generative AI Apps for 2025. It leads domestic video AI rankings, and surpasses overseas products like Sora, Midjourney and Runway.
MiniMax is constantly working on video models. In September 2024 it released its first AI high definition video generation model Abab-1; in December 2024 it released the image-to video model I2V-01 Live, which was specifically optimized for anime effects. MiniMax launched its S2V model in mid-January 2025. In March, the global rollout of the lens control function.
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