Singapore-based video-generation startup PixVerse announced on Friday that it has successfully closed its Series C extension, raising a total of $439 million. This funding round has propelled the company's valuation to over $2 billion, signifying a robust interest in its innovative offerings.
Funding Details and Investors
The latest tranche of funding aims to enhance PixVerse's world model offerings and expand its customer reach across various geographies. The initial Series C round, which took place in March, was led by CDH Investments and reportedly raised around $300 million, although the exact amount was not disclosed. Notable investors in the extension round include:
- Alibaba
- Lollapalooza Capital
- Ivy Capital
- Grand Mount Capital
- Eastern Bell Capital
- Mirae Asset
- BlueFocus
- CloudAlpha
Returning investors such as iGlobe Partners and OCBC's Lion X Ventures also participated in this funding round, reflecting strong confidence in PixVerse's potential.
Company Objectives and Expansion Plans
With the new funding secured, PixVerse plans to focus on expanding its world model offerings. The company's strategy includes reaching diverse customer bases globally, which is crucial for its growth in the competitive video-generation market. The funds will facilitate technology enhancements and broader market penetration.
