Higgsfield, the AI video and image generation company dabbling across both marketing and entertainment spaces, extended its Series B funding round with new investments from Nvidia and the investment firm TCV.
The San Francisco-based company announced the investments as Nvidia CEO Jensen Huang visited Kazakhstan on Friday, where much of Higgsfield’s founding team hails from. The investments, the amounts of which the company declined to disclose, come after Higgsfield announced its initial Series B funding round in August with investments from DST Global, Goldman Sachs Alternatives, Tribe Capital, AI Capital Partners, Smash Capital, GFT Ventures and Valor Capital. That round raised $400 million at a $5.4 billion valuation, and Higgsfield said it hit $1 billion in annualized revenue in September.
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“Every brand, studio and creator now needs more visual content than traditional production can supply, and a new category is forming to meet that demand,” Higgsfield CEO Alex Mashrabov said in a statement. “TCV has backed iconic companies that have transformed media, and Nvidia has powered every generation of our platform. With leaders from compute to media development we’re well positioned to lead this new frontier.”
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“We believe Alex and the Higgsfield team are delivering…