PixVerse raises $439M at $2B+ valuation for video AI models

PixVerse, a Singapore-based video-generation startup founded in 2023 by Wang Changhu (formerly ByteDance computer vision) and Jaden Xie, has raised a $439M Series C extension, pushing its valuation above $2B. The round includes new investors like Alibaba, Lollapalooza Capital, and Mirae Asset, alongside returning investors iGlobe Partners and OCBC's Lion X Ventures. The company plans to use the funds to expand its world model offerings and reach global customers.

PixVerse offers multiple models: V-Series for consumer and API use, C-Series for professional film and commercial workflows, and R-Series world models for game development and world building. Users can generate videos in up to 4K resolution with built-in audio. The consumer product has over 150M registered users and 15M monthly active users, with a competitive price of $4.80 per minute for image-to-video generation.

Co-founder Xie credits the company's core strength to labeling technology inherited from TikTok's computer vision expertise, which allows accurate data labeling for high-quality video generation. He notes that with OpenAI shutting down Sora 2 and competitors like Meta and Tencent struggling, only a few companies meet the quality bar. PixVerse already has a deal with Alibaba to deploy video-generation features.

The video-generation market is heating up with competitors like ByteDance's Seedance, Kling AI, Video Rebirth, and Western players like Midjourney, Runway, and Luma. Despite this, PixVerse aims to hire more researchers and go-to-market talent across its 150-employee offices in Singapore, Beijing, and Shanghai. It plans to launch a new V-Series model and a new version of its world model this year.