Singapore-headquartered AI video generation startup PixVerse has closed its Series C for a total of $439 million after completing an extension round with Alibaba, Mirae Asset, and six other new investors. The round values the company at more than $2 billion, according to multiple reports. [1][3].
This expansion builds on PixVerse’s first Series C tranche, which closed in March 2026 and was led by CDH Investments, making the company the first to cross the unicorn threshold. [3]. Returning investors iGlobe Partners and OCBC’s LionX Ventures also participated in the extension. [2].
Founded in April 2023 by former Microsoft Research Asia and ByteDance executive Wang Changhu and co-founder Jaden Xie, PixVerse launched its platform in January 2024 and has since gained more than 150 million registered users across 177 countries. [2][3]. The company operates under the parent company AIsphere [3].
the round
Eight new investors participated in the Series C extension: Alibaba, Lollapalooza Capital, Ivy Capital, Grand Mount Capital, Eastern Bell Capital, Mirae Asset, BlueFocus, and CloudAlpha. Existing backers iGlobe Partners and OCBC’s LionX Ventures return for extension [2][3].
The $439 million Series C follows previous rounds, including a $55 million Series A backed by Ant Group, Lighthouse Capital, and Beijing Artificial Intelligence Industry Investment Fund, followed by a $60 million Series B in September 2025. [3]. In total, PixVerse has raised well over $550 million since its founding.
The exact split between Series C’s initial closing price and extension period has not been disclosed. Bloomberg previously reported that the March tranche was about $300 million. [3].
product
PixVerse uses a proprietary V6 model developed entirely in-house to generate cinematic-quality videos from text, images, and video clips. [4]. But the company’s ambitions extend far beyond text-to-video conversion.
In January 2026, PixVerse announced R1. The company said it is the world’s first real-time world model that transforms static video generation into an interactive stream that instantly responds to user input. Later updates added shared worlds and personalized avatars for a multi-user experience [2].
The company is currently building the PixVerse game engine, which applies R1 technology to game creation. This allows players to interact with the environment through natural language and receive real-time visual and mechanical responses. [2]. Interactive live streaming with AI characters responding to viewer input is also in development. [4].
investors
Alibaba’s participation is notable as a sign of Big Tech’s interest in the AI video generation field. Chinese e-commerce giant joins cap table that already includes Alibaba’s fintech affiliate Ant Group from a previous round [3].
The involvement of Korean asset manager Mirae Asset reflects PixVerse’s global investor base, which spans Singapore (iGlobe Partners, LionX Ventures), China (CDH Investments, Eastern Bell Capital) and multiple other geographies. Chinese marketing and communications conglomerate BlueFocus brings potential strategic distribution channels [2][3].
competitive environment
PixVerse operates in an increasingly crowded AI video generation market. OpenAI’s Sora, Runway, Luma AI, Kling, and MiniMax are all competing for creator and enterprise adoption. The field has attracted billions of dollars in venture funding in the past 18 months.
PixVerse’s pivot to real-time interactive worlds and game engines represents a strategic differentiation from pure text-to-video competitors. By building an AI-native game engine, the company is positioning itself at the intersection of generative video and interactive entertainment, a market that has the potential to be a bigger revenue stream than video creation tools alone. [2].
what’s next
PixVerse launches new V-series models for video generation and plans to release an updated version of its R1 world model later this year [1]. The company is also expanding geographically, using the new capital to reach customers across new markets. [1].
With over 150 million registered users and a valuation of over $2 billion, PixVerse has established itself as one of the most well-funded AI video startups in the world. The question now is whether betting on interactive worlds and AI game engines, rather than competing purely on video quality, can deliver enough revenue growth to justify the valuation.
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