Singapore-based AI video generation startup PixVerse has closed a $439 million Series C extension, pushing its valuation to more than $2 billion. The round follows an initial Series C led by CDH Investments in March, with participation from investors Alibaba, Lollapalooza Capital, Ivy Capital, Grand Mount Capital, Eastern Bell Capital, Mirae Asset, BlueFocus, and CloudAlpha, as well as returning investors iGlobe Partners and OCBC’s Lion X Ventures.
Founded in 2023 by former ByteDance computer vision researcher Wang Changhu and former Lighthouse Capital executive director Jaden Xie, PixVerse offers a wide range of AI video models spanning consumer applications, professional filmmaking, and world-building tools for game development. The company says its consumer products have more than 150 million registered users, more than 15 million monthly active users, and can now generate videos at up to 4K resolution.
Xie said the video generation market remains limited to a few capable players, noting that OpenAI exited the space after discontinuing development of Sora 2 and that competitors such as Meta and Tencent are struggling to match quality benchmarks. He believed that PixVerse’s advantage lies in its data labeling technology, drawing on the previous work of Changhu, who developed visual recognition technology at ByteDance.
With the new funding, PixVerse plans to expand its enterprise partnerships globally, including its existing deployment agreement with Alibaba, while also releasing new video and global model products and expanding its team of 150 people in Singapore, Beijing, and Shanghai.
