Singapore-based artificial intelligence startup PixVerse has completed an extension of its Series C funding round, bringing the total capital raised in the financing to $439 million and pushing the company’s valuation above $2 billion.
The company said the new investment will be used to expand its world model technology, enhance its AI video-generation platform and broaden its international customer base.
Investors Back Global Growth Strategy
PixVerse completed the first close of its Series C round in March, led by CDH Investments. While the company did not disclose the amount raised at the time, Bloomberg previously reported the financing was valued at around $300 million.
The extension round attracted participation from Alibaba, Lollapalooza Capital, Ivy Capital, Grand Mount Capital, Eastern Bell Capital, Mirae Asset, BlueFocus and CloudAlpha. Existing investors iGlobe Partners and Lion X Ventures, the venture investment arm of OCBC, also joined the latest fundraising.
Founded in 2023 by Wang Changhu and Jaden Xie, PixVerse develops AI-powered video generation models for consumers, developers and enterprise customers. Changhu previously specialized in computer vision at ByteDance, while Xie formerly served as an executive director at Lighthouse Capital.
The startup’s product portfolio includes its V-Series models for consumer applications and API services, C-Series models for professional filmmaking and commercial production, and the R-Series world models designed for game development and virtual environment creation.
PixVerse said its platform allows users to generate videos with integrated audio in resolutions of up to 4K. The company reported more than 150 million registered users and over 15 million monthly active users worldwide. While it did not disclose the number of paying subscribers, it said image-to-video generation starts at approximately $4.80 per minute.
Competition Intensifies in AI Video Generation
Xie said only a handful of companies have reached a level of quality capable of competing in the emerging AI video-generation market.
“OpenAI exited the business when they shut down Sora 2. Other companies like Meta and Tencent are not able to create high-quality video models. So there are only a few companies that can meet the quality bar.”
He said PixVerse sees significant opportunities in both consumer and enterprise markets, with individuals creating AI-generated videos for entertainment while businesses increasingly adopt the technology for marketing, education and creative production.
According to Xie, the company’s competitive advantage comes from how it labels training data rather than the availability of the data itself.
“We think the key difference is not in data, but how you label it, because data is available everywhere. My co-founder worked at ByteDance, where he built core visual understanding technology behind TikTok using AI. Using this tech, TikTok was able to label data accurately and build a strong recommendation algorithm. This experience comes in handy when building a video-generation platform.”
The company plans to release an updated V-Series video model and a new version of its world model later this year. It is also expanding its enterprise business internationally and already has an agreement with investor Alibaba to deploy its video-generation technology.
PixVerse employs approximately 150 people across offices in Singapore, Beijing and Shanghai. The company said the additional funding will support hiring in AI research and commercial teams.
The AI video-generation market has become increasingly competitive, with rivals including ByteDance’s Seedance, Video Rebirth founded by former Tencent AI executive Wei Liu, Kling AI, and Western companies such as Midjourney, Runway and Luma. Several AI startups, including ventures led by Yann LeCun and Fei-Fei Li, are also developing world model technologies.