PixVerse, a Singapore‑based video‑generation startup, announced on July 13 that it closed a Series C extension raising $439 million, bringing its valuation above $2 billion. The company’s initial Series C round in March was led by CDH Investments and reportedly raised about $300 million, according to Bloomberg. The extension added investors including Alibaba, Lollapalooza Capital, Ivy Capital, Grand Mount Capital, Eastern Bell Capital, Mirae Asset, BlueFocus, CloudAlpha, iGlobe Partners and OCBC’s Lion X Ventures. Founded in 2023 by Wang Changhu, a former computer‑vision engineer at ByteDance, and Jaden Xie, a former executive director at Lighthouse Capital, PixVerse offers V‑Series models for consumer and API use, C‑Series models for professional film and commercial workflows, and R‑Series world models for game development and world building. Its tool can generate videos up to 4K resolution with embedded audio. The consumer platform reports more than 150 million registered users and over 15 million monthly active users, with a pricing rate of $4.80 per minute of generated video; the number of paying users was not disclosed. Xie said the video‑generation market remains limited, noting that OpenAI exited the field after shutting down Sora 2 and that Meta and Tencent have not yet produced high‑quality models. He added that the company’s advantage lies in data labeling, drawing on ByteDance’s technology that powers TikTok’s recommendation system. PixVerse plans to expand its enterprise outreach globally and has a partnership with Alibaba to integrate its video‑generation features. The startup intends to launch a new V‑Series model and a new version of its world model later this year and aims to increase its research and go‑to‑market staff from its current 150 employees in Singapore, Beijing and Shanghai. Competitors in the space include ByteDance’s Seedance model, Video Rebirth by former Tencent AI head Dr. Wei Liu, Kling AI, as well as Midjourney, Runway and Luma in the United States, and startups led by researchers such as Yann LeCun and Fei‑Fei Li working on world models.