Nvidia and TCV join AI video platform Higgsfield’s Series B in an extension

AI image and video platform Higgsfield announced on October 23 that it had extended its Series B with new investment from TCV and Nvidia. According to Bloomberg, the company did not disclose the size of the extension or its latest valuation. The original Series B, led by DST Global in August, raised $400 million at a $5.4 billion valuation. TCV has previously backed Netflix, Spotify and ByteDance. The announcement coincided with Nvidia CEO Jensen Huang’s first visit to Kazakhstan, where he confirmed the investment in Astana, according to The Astana Times.

Former Snap executive Alex Mashrabov and Kazakh AI engineer Yerzat Dulat founded the company in 2023. It is based in San Francisco, with most of its engineers in Kazakhstan. Bloomberg says the platform offers about 35 video models from other providers alongside its own engine. Higgsfield says it has more than 40 million users across 238 countries and territories, and that its annualized revenue run rate passed $1 billion in September, 18 months after launch. The money will go toward product development, global infrastructure, hiring and go-to-market expansion. Rival Runway raised $315 million at a $5.3 billion valuation in February, Bloomberg noted.