AI video generation platform PixVerse has completed an extension of its Series C funding, bringing the total raised in the round to $439 million, with Alibaba joining as a new investor.
Other new backers include Lollapalooza Capital, Ivy Capital, Grand Mount Capital, Eastern Bell Capital, Mirae Asset, BlueFocus, and CloudAlpha. Existing investors iGlobe Partners and OCBC’s LionX Ventures also participated. The company did not disclose its valuation.
Building AI-generated worlds
Founded in April 2023 by former Microsoft Research Asia and ByteDance executive Wang Changhu, PixVerse has attracted over 100 million users across 175 countries. The platform lets users generate cinematic-quality video from text, images, or video clips.
The company plans to use its proprietary real-time world model, R1, to power a new game engine for AI-generated game worlds. It also plans to expand into interactive livestreaming with AI-generated virtual characters responding to audiences in real time.
PixVerse previously secured over $55 million across Series A rounds and $60 million in Series B, with backers including Ant Group and Lighthouse Capital.
