The parent company of Lovart, Yanspeech Technology, is planning to IPO in Hong Kong, with a new funding valuation soaring to $3 billion.

According to TechIn Sight's Monitoring, AI Design Agent Lovart's parent company, Translingo Technology, is in preliminary discussions with advisors regarding a Hong Kong IPO. The company is also close to completing a new round of funding, with a valuation potentially reaching $3 billion.

Lovart targets designers and creators, allowing them to generate, customize, and batch output visual assets based on a single request. It does not develop its own underlying models but mainly uses third-party models such as GPT and Gemini. Translingo Technology also operates LiblibAI, Starstream, and LibTV domestically.

In June, Translingo Technology just concluded a nearly $300 million Series B+ funding round, with a post-investment valuation exceeding $20 billion. As of May, the company's ARR (Annual Recurring Revenue) has surpassed $300 million. If the new funding round is successful, its valuation will increase to $30 billion in less than two months.