New Delhi, July 14 -- SINGAPORE - When OpenAI shut down Sora 2 earlier this year, it left behind a market of creators who had built workflows around AI video generation with no clear next step. PixVerse, a Singapore startup, had been quietly accumulating 150 million registered users while most of the industry's attention was pointed elsewhere.

The company said Tuesday it had closed a $439 million Series C extension that pushes its post-money valuation above $2 billion. Alibaba is joining as a new investor, along with Lollapalooza Capital, Mirae Asset, and BlueFocus, among others. The round arrives roughly four months after PixVerse closed an initial Series C round of around $300 million led by CDH Investments, bringing the company's tota...