AIsphere, the Beijing-based startup behind the popular AI video generator PixVerse, has raised $60 million in a funding round led by Alibaba Group Holding, the Chinese e-commerce and cloud computing giant. This marks the largest single funding amount raised by a domestic AI video generation company, reflecting the growing investment interest in China’s AI video creation market as Big Tech firms seek to complement their offerings through strategic partnerships with specialized startups.
Key details: The funding round included participation from Singapore-based venture capital firm Antler and the Beijing Artificial Intelligence Industry Investment Fund, though the company’s valuation was not disclosed.
Company background: Founded in April 2023 by Wang Changhu, a former Microsoft and ByteDance executive, AIsphere developed PixVerse as a video creation platform that allows users to generate videos from text prompts, images, and other video clips.
Impressive user growth: PixVerse now boasts over 100 million users globally, more than doubling its user base from the start of the year.
• The platform gained viral attention when its “Venom effect” video template went viral on TikTok late last year.
Strategic focus: The new funding will support research and development efforts as well as continued global expansion for the company.
• The investment aligns with a broader trend of China’s Big Tech companies investing in niche AI startups to enhance their product portfolios and offerings.
Market context: The deal highlights the competitive landscape in AI video generation, where Chinese companies are positioning themselves against international competitors while securing backing from major technology conglomerates.
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