Video generation startup PixVerse raises $439M, valuation soars past $2B

Singapore-based video generation startup PixVerse announced today that it has closed its Series C extension round, raising a total of $439 million. The company told TechCrunch that with the new tranche of funding its valuation has crossed over $2 billion. PixVerse said it aims to expand its world model offering and reach customers across geographies with the cash. The company closed its initial Series C round in March led by CDH Investments. Bloomberg reported that round to be in the range of $300 million. PixVerse said investors in the extension round include Alibaba, Lollapalooza Capital, Ivy Capital, Grand Mount Capital, Eastern Bell Capital, Mirae Asset, BlueFocus, and CloudAlpha, joining returning investors iGlobe Partners and OCBC's LionX Ventures. The company was founded by Wang Changhu and Jaden Xie in 2023. PixVerse offers multiple models including a V-Series video model for consumer and API use, a C-Series video model for professional film and commercial workflows, and an R-Series of world models for game development and world building released earlier this year. The startup said its consumer product has over 150 million registered users and over 15 million monthly active users. It offers a rate of $4.80 per minute of generation for image-to-video. The company has 150 employees across offices in Singapore, Beijing and Shanghai and aims to hire more researchers and people in go-to-market functions.