PixVerse, a video-generation startup based in Singapore, announced today the successful closing of its Series C extension, raising a total of $439 million in this funding round. The company revealed that this new investment has pushed its valuation beyond $2 billion. The funds will be utilized to enhance its world model offerings and to expand its customer base globally.
The initial Series C financing was concluded in March, with CDH Investments leading the round. While the exact amount raised was not disclosed, reports suggested it was approximately $300 million. The new investors in the extension include Alibaba, Lollapalooza Capital, Ivy Capital, Grand Mount Capital, Eastern Bell Capital, Mirae Asset, BlueFocus, and CloudAlpha, alongside existing backers iGlobe Partners and OCBC’s Lion X Ventures.
Founded in 2023 by Wang Changhu and Jaden Xie, PixVerse is backed by the founders’ previous experience, as Changhu had worked on computer vision at ByteDance, while Xie was an executive director at Lighthouse Capital.
PixVerse provides several models, such as a V-Series for consumer and API applications, a C-Series designed for professional filmmaking, and an R-Series of world models for gaming and virtual environment creation, which launched earlier this year.
The platform allows users to produce videos in resolutions up to 4K with integrated audio. According to the startup, it boasts over 150 million registered users, with more than 15 million of those being active monthly users. While the company refrained from detailing the number of paid subscribers, it does offer competitive pricing at $4.80 for each minute of video generated from images.
Xie expressed confidence in the potential for success in video generation, noting that only a limited number of companies have made significant advancements in this sector.
“OpenAI exited the space by shutting down Sora 2, and firms like Meta and Tencent have struggled to develop high-quality video models. Very few are able to meet the required standards,” he shared.
He believes both consumer and enterprise markets present equal opportunities, as individuals create videos for enjoyment while businesses leverage video generation for creative projects, training, and marketing purposes.
However, Xie pointed out that claiming high-quality output is not a distinguishing factor by itself; instead, he emphasized the importance of effective data labeling.
“We believe the key distinction lies not in the data itself, which is widely available, but in how it is labeled. My co-founder’s experience at ByteDance, where he developed essential visual understanding technologies for TikTok, is advantageous. TikTok’s success came from accurate data labeling and a robust recommendation algorithm—insights that are beneficial for building our video-generation platform,” Xie explained.
With ambitious plans for the year ahead, PixVerse aims to broaden its enterprise outreach internationally. The startup has already established a partnership with Alibaba to implement its video-generation capabilities.
In terms of product strategy, the company is set to unveil a new V-Series model for video production and an updated version of its world model within the year. Employing 150 staff across locations in Singapore, Beijing, and Shanghai, the new funding will facilitate further recruitment of researchers and marketing personnel.
Despite its strong belief in its offerings, PixVerse faces increasing competition in the video generation market. Notable players include ByteDance with its Seedance model, Dr. Wei Liu’s Video Rebirth from Tencent, and Kling AI in Asia, alongside Western competitors such as Midjourney, Runway, and Luma. Furthermore, various startups led by renowned figures like Yann LeCun and Fei-Fei Li are developing world models.
