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

Singapore-based video-generation startup PixVerse has raised $439 million in a Series C extension round, pushing its valuation past $2 billion. The company, founded in 2023 by Wang Changhu and Jaden Xie, plans to use the new funding to expand its world model offerings and reach customers globally. Investors in the extension round include Alibaba, Lollapalooza Capital, and Ivy Capital, among others, joining returning investors iGlobe Partners and OCBC's Lion X Ventures. PixVerse offers multiple models, including a V-Series for consumer and API use, a C-Series for professional film workflows, and an R-Series of world models for game development. The startup claims its consumer product has over 150 million registered users and 15 million monthly active users, and it can generate videos in up to 4k resolution with audio. Co-founder Jaden Xie believes only a few companies can meet the quality bar in the market, noting that OpenAI exited the business and other tech giants struggle to create high-quality video models. Xie attributes PixVerse's core strength to its data labeling technology, which leverages experience from building TikTok's visual understanding systems.