By UN Journal Lee Kap-soo

Higgsfield AI has officially become Kazakhstan’s first unicorn startup, surpassing a $1 billion valuation, announced co-founder and former Head of Generative AI at Snap Inc. Alex Mashrabov on Sept. 28.

According to Mashrabov, the company recently crossed a $50 million run-rate revenue threshold, marking a historic milestone for Kazakhstan’s tech ecosystem.

“For the last 15 years, no company in our country has managed to achieve this,” he said.

Higgsfield AI’s journey to unicorn status was fueled by investments from leading global funds, including Menlo Ventures, which has also backed companies such as Anthropic, reported The Tech media.

“This achievement did not come overnight. We have built Kazakhstan’s first unicorn with the support of world-class investors,” Mashrabov said.

The announcement represents a significant milestone for Central Asia, highlighting the region’s growing role in the global technology landscape.