Higgsfield AI—the foundation generative video enterprise co-founded by Kazakhstani engineer Erzat Dulat—has officially closed a $400 million Series B funding round at a $5.4 billion valuation. The transaction cements Higgsfield as one of the fastest-growing generative AI scale-ups globally, multiplying its corporate valuation fourfold in under eight months.
From $1.3B to $5.4B in Eight Months: Tier-1 Institutional Backing
The round was led by Yuri Milner’s DST Global, with participation from institutional heavyweights including Goldman Sachs Alternatives, Tribe Capital, Smash Capital, Fifth Wall, Valor Capital, Intel Capital, Liberty Global Tech Ventures, Mirae Asset Capital, and NTT DOCOMO Ventures. Early venture backers Menlo Ventures, Accel, AI Capital Partners, and GFT Ventures participated with follow-on allocations. To explore the broader venture funding ecosystem that supported early development, review our comprehensive directory of venture capital funds and angel syndicates in Kazakhstan.
35x Revenue Surge: Reaching $700 Million Annualized Run-Rate
Unlike speculative AI startups burning cash on compute without commercial monetization, Higgsfield demonstrated extraordinary top-line velocity. The company expanded its annual recurring revenue (ARR) run-rate thirty-fivefold over twelve months, scaling from $20 million in late 2024 to $200 million in January 2026, $500 million in June, and reaching $700 million at the close of Series B.
Over 70% of current revenues stem from enterprise subscriptions across global media conglomerates, gaming studios, and advertising networks. The consumer and creator tier serves over 30 million active users across 238 countries and territories, generating millions of cinematic video clips daily. For a deep profile of the engineering leadership behind the algorithm, read our biography of co-founder and CTO Erzat Dulat.
Market Consolidation: Capitalizing on Competitor Pivots
Higgsfield’s commercial breakout coincides with dramatic restructuring among direct generative video rivals. OpenAI formally sunset its standalone consumer application for Sora on April 26, 2026, opting to integrate video features into enterprise ChatGPT subscriptions. Concurrently, Runway shifted primary focus toward foundation robotics and spatial world models following its $315 million round. By concentrating relentlessly on creator monetization, granular camera motion controls, and studio editing pipelines, Higgsfield established undisputed global leadership in generative video production.
