PixVerse raises $439M Series C, valuation past $2B, with Alibaba backing and deploying

Singapore's PixVerse closed a $439M Series C extension past a $2B valuation, adding Alibaba, Mirae Asset, and others to a consumer product with 150M+ registered and 15M+ monthly active users. Co-founder Jaden Xie frames the market as consolidating to a few players that clear the quality bar — OpenAI pulled Sora 2, Meta and Tencent lag — and Alibaba's dual role as investor and deployment partner shows how frontier video generation is coalescing around a handful of capital-backed labs.

Source: techcrunch.com ↗