Talent Behind AI Video Unicorn
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What does Higgsfield's $1.3 billion valuation signify for the AI video industry?
The AI video startup Higgs Field, which was founded by some ex-Snapchat executives, has just reached a $1.3 billion valuation. This is massive, not just for the company, but I think for the AI video space, and it shows you just how fast things are heating up. It also shows that venture capitalists are still willing to back a lot of these big AI video plays. Even when it feels like OpenAI Sora and Google Gemini are really dominating with things like Google VO3 and like a lot of these big Runway and Pika and like a lot of these big labs have these really impressive video products and they have billions of dollars behind them. And yet we're still, you know, willing to invest into new startups, which means they believe that OpenAI and Google are not going to run away with the market.
There's going to be a lot of other players here. So today I want to get into the deal and how it's sort of structured, how they were able to raise this money and what their company is able to do, what sets them apart. Get into all of that in the state of AI video today.
Before we do that, I wanted to mention, if you want to try a lot of the AI models I mentioned on the podcast, including everything from Google, OpenAI, Meta, 11 Labs for Audio, tons of cool audio and video generators, go check out my startup, which is AIbox.ai. There's a link in the description. You get access to over 40 different AI models all in one place. You can chat with them just like ChatGPT, switch between models, test them, compare them side by side.
It's $20 a month and you don't have to have subscriptions to a dozen different services and all of your data is in one place. So if you want to check it out, there's a link in the description to AIbox.ai. All right, let's talk about this deal that's going down with Higgs Field right now. I think what's interesting is this has actually grown a lot bigger than their original fundraising announcement that they did. So they actually did an extension of their $50 million Series A. They closed that back in September. They've now done an extension and they sold an additional $80 million in equity, which means that their total Series A is $130 million. This is kind of an interesting thing. You know, a lot of people could be like, oh, wow, like they they were able to get all this extra money.
But also because we're seeing like rounds happen so close back to back for a lot of the big A.I., labs doing a round in September and then doing a round in January, or I guess like afterwards, it could have been a Series B, but they decided to tag it on as a Series A. What's the difference? This is probably the same valuation, which means that perhaps their valuation didn't grow. Now, was the, you know, was the demand to invest in this dampened? No, I mean, they were still able to get $80 million, which are more than their $50 million Series A. But I do think it is interesting that they kind of just tagged this on instead of calling it a Series B. um but regardless this is still a massive amount of money 130 million dollars total that they raised in their series a side note this i guess does like bode well and it looks good for the company to be like no like even maybe sometimes they in the extension sometimes they still do increase the price of the you know of the valuation of the company um but they're they still call it a series a because then it's like no we raised 130 million dollars in our series a so when we go for a series b it's
It's all optics at this point, once you get into these kind of numbers. Regardless, Higgins Field now says that they have hit a valuation of $1.3 billion. So it is officially in unicorn territory, less than a year after it launched its core product. And they were in development for longer before that, but... a year after its core product, and they have now become a unicorn. What's interesting is Higgs field builds software that essentially lets you generate and edit short form videos using AI. So they're not, you know, they're not kind of focused on these huge long form things like they're really focused on these short form clips.
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