Singapore-based PixVerse, a video-generation startup, has raised an impressive $439 million, boosting its valuation past $2 billion. The influx of cash will fuel expansion into new markets and bolster the company’s world models.

Founded by Wang Changhu and Jaden Xie, with backgrounds in computer vision and investment respectively, PixVerse offers multiple video models for consumer use, professional workflows, and game development. Their tool allows users to create high-resolution videos quickly, with over 150 million registered users and 15 million monthly active ones.

Xie believes the market is ripe for quality video generation, citing the limitations of other big tech players like Meta and Tencent in this space. He emphasizes PixVerse's strength lies in accurate data labeling, capitalizing on his team’s experience from ByteDance. The company plans to hire more researchers and expand globally.

While the market is heating up with competitors like Seedance, Video Rebirth, and Midjourney, PixVerse remains bullish on its offerings and ambitions for 2023.