Singapore-based video-generation startup PixVerse announced it has closed a Series C extension, raising $439 million in the round. The company told TechCrunch that the new tranche pushed its valuation above $2 billion.
Why the funding matters
PixVerse said it will use the proceeds to expand its world-model offering and to reach customers across additional geographies. The startup previously closed its initial Series C round in March, which was led by CDH Investments; PixVerse did not disclose the amount for that round, though Bloomberg reported it was in the roughly $300 million range.
Investors
Investors in the extension include Alibaba, Lollapalooza Capital, Ivy Capital, Grand Mount Capital, Eastern Bell Capital, Mirae Asset, BlueFocus and CloudAlpha. These participants join returning backers iGlobe Partners and OCBC’s LionX Ventures.
Founders and product lineup
PixVerse was founded in 2023 by Wang Changhu and Jaden Xie. Wang previously worked at ByteDance on computer vision, and Xie served as an executive director at investment firm Lighthouse Capital.
The company offers several model families: the V-Series for consumer and API use, the C-Series for professional film and commercial workflows, and the R-Series of world models for game development and world building, the latter released earlier this year.
Users can generate videos up to 4K resolution with audio baked in. PixVerse said its consumer product has over 150 million registered users and more than 15 million monthly active users. The company did not disclose how many are paying customers but lists a rate of $4.80 per minute for image-to-video generation.
Management views on the market
Jaden Xie told TechCrunch that although video generation presents a huge opportunity, only a few companies are making significant progress. He noted that OpenAI exited the space by shutting down Sora 2 and argued that other large firms like Meta and Tencent have not been able to produce high-quality video models. Xie sees opportunity in both consumer and enterprise markets: consumers create and consume short AI-made video content, while enterprises use video generation for creative, learning and marketing applications.
Xie also emphasized that PixVerse’s core advantage lies in how it labels data rather than in sheer data volume. He referenced his co-founder’s ByteDance experience building visual understanding technology that supported TikTok’s recommendation engine, arguing that that expertise is useful when building a video generation platform.
Growth plans and hiring
The company plans to expand its enterprise reach globally and already has a deal with investor Alibaba to deploy video generation features. On the product side, PixVerse intends to launch a new V-Series video model and to release an updated version of its world model this year. The startup employs about 150 people across offices in Singapore, Beijing and Shanghai, and says it will hire more researchers and go-to-market staff with the new funding.
Competitive landscape
The video generation market is heating up. Regional and global competitors include ByteDance with its Seedance model, Dr. Wei Liu’s Video Rebirth, Kling AI in Asia, and Western rivals such as Midjourney, Runway and Luma. Multiple teams, including startups connected to Lann YeCunn and Fei-Fei Li, are also building world models.
With the new capital and product roadmap, PixVerse aims to strengthen its position in a fast-growing but increasingly competitive generative video market.
