Singapore-based PixVerse has closed a $439 million Series C extension and told TechCrunch that the new financing takes its valuation above $2 billion. The AI video startup said the capital will support its world-model work and a broader enterprise push across markets.

TechCrunch reported that PixVerse's initial Series C round closed in March, led by CDH Investments, with Bloomberg previously putting that earlier tranche around $300 million. The extension adds investors including Alibaba, Lollapalooza Capital, Ivy Capital, Grand Mount Capital, Eastern Bell Capital, Mirae Asset, BlueFocus, and CloudAlpha, alongside returning backers iGlobe Partners and OCBC's Lion X Ventures.

The company is trying to span both consumer video generation and more specialized production workflows. Its lineup includes V-Series models for consumer and API video generation, C-Series models for film and commercial work, and an R-Series world-model effort aimed at game development and interactive world building. PixVerse's own R1 launch post describes that system as a real-time model for continuous interactive video, with enterprise API access available to qualified partners.

The round lands as the AI video market becomes more crowded. TechCrunch points to rivals from ByteDance, Kling AI, Midjourney, Runway, and OpenAI, among others. For PixVerse, the question is whether funding and distribution partnerships, including a reported deployment deal with investor Alibaba, can translate into durable usage beyond the current rush to ship video-generation tools.