PixVerse Raises $439M in Series C Extension, Valuation Tops $2B
Singapore's PixVerse closed a $439M Series C extension, lifting its valuation past $2B and adding Alibaba as a backer in a crowded video-generation market.
PixVerse, a Singapore-based video-generation startup, said on July 13 that it has closed a Series C extension bringing the round's total to $439 million, pushing its valuation past $2 billion.
The company told TechCrunch that the fresh capital will fund an expansion of its world model products and a push to reach customers in more markets. PixVerse closed the initial Series C in March, led by CDH Investments. It did not disclose the amount at the time, though Bloomberg reported it at roughly $300 million.
The extension pulls in a long list of new investors, including Alibaba, Lollapalooza Capital, Ivy Capital, Grand Mount Capital, Eastern Bell Capital, Mirae Asset, BlueFocus, and CloudAlpha. Returning backers iGlobe Partners and OCBC's Lion X Ventures also joined.
The founders and the product
PixVerse was founded in 2023 by Wang Changhu and Jaden Xie. Changhu previously worked on computer vision at ByteDance, and Xie was an executive director at Lighthouse Capital.
The startup sells several model families: a V-Series for consumer use and API access, a C-Series aimed at professional film and commercial work, and an R-Series of world models for game development and world building, released earlier this year. Its tools can produce video at up to 4K resolution with audio included.
PixVerse says its consumer product has more than 150 million registered users and over 15 million monthly active users. The company declined to say how many of them pay. It charges $4.80 per minute of generation for image-to-video output.
A market with few survivors
Xie framed the opportunity as large but crowded with companies that cannot clear the quality bar. "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," he told TechCrunch. He argued that only a handful of firms can meet the standard consumers and enterprises expect.
That claim about product quality is a common one in the space, and hard to verify from the outside. Xie pointed instead to data labeling as PixVerse's edge, tying it back to his co-founder's work at ByteDance on the visual-understanding technology behind TikTok's recommendation system. His argument is that raw data is abundant, so the differentiator is how accurately it gets labeled.
What comes next
PixVerse plans to launch a new V-Series video model and a new version of its world model this year, while expanding enterprise sales globally. It already has a deal with investor Alibaba to deploy its video-generation features. The company employs 150 people across Singapore, Beijing, and Shanghai, and intends to hire more researchers and go-to-market staff.
The competition is dense on both sides of the Pacific. In Asia, PixVerse faces ByteDance's Seedance model, Kling AI, and Video Rebirth from former Tencent AI head Dr. Wei Liu. In the West, Midjourney, Runway, and Luma are active in video generation, while startups tied to Yann LeCun and Fei-Fei Li are pursuing world models. The category is well funded and increasingly contested, which makes PixVerse's argument that few players can compete a bet it will now need to prove against a growing field.
