PixVerse raises $439M and says its valuation is now over $2B

In short: PixVerse, a Singapore-based company that makes AI tools for generating videos, says it raised $439 million and is now valued at more than $2 billion.

What happened

PixVerse said it closed a “Series C extension,” which is an add-on to a previous funding round (like going back to investors for extra money after an earlier raise). The company said the Series C round now totals $439 million.

PixVerse told TechCrunch that this new funding puts its valuation above $2 billion. A valuation is an estimate of what investors think the whole company is worth.

The company said investors in this extension include Alibaba, Mirae Asset, BlueFocus, and others, along with returning investors iGlobe Partners and OCBC’s LionX Ventures. PixVerse was founded in 2023 by Wang Changhu and Jaden Xie.

PixVerse’s software lets people generate videos, including up to 4K quality, and it can add audio. The company said it has more than 150 million registered users and over 15 million monthly active users, but it did not say how many pay.

PixVerse also sells “world models,” which are AI systems that try to simulate how a scene works over time (like a video game engine that can imagine and update a world as things move). The company said it will use the new money to expand these world model products and reach customers in more countries.

Why it matters

Tools that can create videos from prompts or images are becoming more common, and they can be used for fun, ads, training videos, and filmmaking. PixVerse’s funding and user numbers show strong investor interest, but it also highlights how crowded this market is, with many rivals competing for attention and paying customers.

Source: TechCrunch AI