Beijing-based start-up AIsphere, known for its AI video generator PixVerse, has successfully raised US$60 million in a funding round led by Alibaba Group Holding. This marks the largest single investment for a domestic AI video generation company. Other investors include the Singapore-based venture capital firm Antler and the Beijing Artificial Intelligence Industry Investment Fund. The company’s valuation remains undisclosed.
This investment highlights the trend of China’s major tech companies seeking niche AI start-ups to enhance their product offerings. Established in April 2023 by former Microsoft and ByteDance executive Wang Changhu, AIsphere’s platform allows users to create videos from text prompts, images, and clips with ease. The new capital will be directed towards research and development as well as global expansion efforts.
PixVerse has seen significant growth, now boasting over 100 million users worldwide, more than doubling its user base since the start of the year. Its “Venom effect” video template gained viral popularity on TikTok last year.
