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Runway AI has secured $141 million from Google, NVIDIA, Salesforce, and different traders. The corporate introduced the brand new funding on Thursday as an addition to its Collection C spherical of $50 million in December, led by Felicis Ventures.
Runway, which has been creating AI-powered movie and enhancing instruments, has now raised round $237 million in whole. Based on Bloomberg, the corporate has a $1.5 billion valuation.
The startup, based in 2018, allows customers to generate AI movies in minutes. With Runway AI instruments, customers can entry a library of pre-trained fashions for numerous duties akin to picture synthesis, model switch, textual content era, face manipulation, and extra. The corporate goals to democratize synthetic intelligence and make it accessible to artists, designers, researchers, and educators. Furthermore, Runway’s AI-powered instruments are utilized by TV exhibits, media firms, and different creatives, serving to them create new tales and streamline workflows.
In 2023, Runway launched the primary video-to-video generative AI fashions, Gen-1 and Gen-2. With the brand new funding, the corporate plans to increase its in-house analysis endeavors to develop multi-modal AI methods and improve consumer experiences. Its dedication to development contains investing in its staff, with new hires in analysis, engineering, and product roles.
Gen-2 instruments can generate high-quality and numerous outputs, akin to photos, movies, textual content, and audio. Earlier era Gen-1 instruments can carry out less complicated duties, akin to classification, segmentation, and magnificence switch. Each can be utilized collectively or individually to create initiatives with Runway AI.
“Generative AI is reworking the content material creation trade, respiratory new life into tales and concepts that weren’t possible. The Runway staff is doing wonderful work with NVIDIA accelerated computing within the cloud to push the boundaries of creativity and storytelling for thousands and thousands of artists globally,”
stated Jensen Huang, founder and CEO of NVIDIA.
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