AI video startup Higgsfield hits $1.3 billion valuation with latest funding

FILE PHOTO: AI (Artificial Intelligence) letters and robot hand are placed on computer motherboard in this illustration created on June 23, 2023. REUTERS/Dado Ruvic/Illustration//File Photo

Jan 15 (Reuters) - AI video generation startup ‌Higgsfield raised $80 million in new funding, valuing the company at over $1.3 billion, it ‌told Reuters, as investors rush to develop the sector amid booming demand ‌for the new technology.

The Series A extension round included the participation of Accel, GFT Ventures and Menlo Ventures. The San Francisco-based company said it has reached $200 million in annualized revenue run rate, a projection of future revenue.