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Video generation startup PixVerse raises $439M, valuation soars past $2B
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Singapore-based video generation startup PixVerse has raised $439 million in a Series C extension round, pushing its valuation past $2 billion. The company announced the funding today, aiming to expand its world model offerings and reach global customers. This significant investment underscores the growing demand for AI-powered video generation tools.
Founded in 2023 by Wang Changhu and Jaden Xie, PixVerse brings together expertise from ByteDance and investment firm Lighthouse Capital. Changhu previously worked on computer vision at ByteDance, while Xie was an executive director at Lighthouse. The startup offers multiple models including V-Series for consumer and API use, C-Series for professional film, and R-Series world models for game development.
The initial Series C round in March was led by CDH Investments, reportedly around $300 million. The extension round includes investors such as Alibaba, Lollapalooza Capital, Ivy Capital, and others, joining returning investors iGlobe Partners and OCBCâs Lion X Ventures. PixVerseâs consumer product boasts over 150 million registered users and 15 million monthly active users, with a competitive pricing of $4.80 per minute for image-to-video generation.
The funding positions PixVerse as a major player in the competitive video generation market. Xie noted that few companies are making progress, citing OpenAI's shutdown of Sora 2 and the inability of Meta and Tencent to create high-quality video models. He believes both consumer and enterprise markets offer equal opportunities, with users creating AI videos for fun and enterprises using them for marketing and learning.
Xie attributes PixVerse's strength to its labeling technology, derived from his co-founder's experience at ByteDance building visual understanding for TikTok. "Data is available everywhere, but how you label it is key," Xie said. This expertise enables accurate labeling and strong recommendation algorithms, giving PixVerse an edge in video generation.
PixVerse plans to expand globally, including a deal with investor Alibaba to deploy video-generation features. It aims to launch a new V-Series model and a new version of its world model this year. With 150 employees across Singapore, Beijing, and Shanghai, the company will hire more researchers and go-to-market staff.
Despite its confidence, the video market is heating up with competitors like ByteDance's Seedance, Video Rebirth from former Tencent AI head, Kling AI, and Western players like Midjourney, Runway, and Luma. Startups from Yann LeCun and Fei-Fei Li are also building world models. PixVerse will need to innovate to maintain its lead.
