Photoroom raises $43 million in funding to scale generative AI photo editing model
Posted: February 27, 2024 11:36 AM Updated: February 27, 2024 12:37 PM
Correction and fact check date: February 27, 2024, 11:36 AM
briefly
Photoroom has raised $43 million in funding to expand the capabilities of its AI photo editing model, acquire images, and double the size of its global team.
Photoroom, a company developing an AI photo editor, announced that it has raised $43 million in a Series B funding round led by Balderton and Aglaé, with participation from YCombinator. This round brings the total amount raised by the company to $64 million. The photo room plans to use the newly raised capital to expand the capabilities of its AI models through increased investment in GPUs, acquire images from image providers and photographers, and double the size of its team by the end of 2024.
Previous backers include Kima Ventures, FJ Labs, and Meta, as well as several angel investors including Yann LeCun and Zehan Wang, and executives from Hugging Face and Disney+. The startup’s preliminary valuation is in the $500 million to $600 million range.
This announcement coincides with the launch of the first entry-level model designed specifically for product photography, called Photoroom Instant Diffusion (Photoroom ID for short). Photoroom Instant Diffusion (Photoroom ID for short) is trained to excel at product photography, ensuring uniform styling across images from different sources and creating an impression of presence. Captured with the same settings.
“The Foundation Model is the next step in helping companies create amazing products.
You can take pictures without having to be an expert in immediate engineering or photography,” said Matthieu.
Rouif, co-founder and CEO of Photoroom. “Our models are trained to excel in their products.
We can quickly adapt to user needs and feedback.”
Control of custom models allows Photoroom’s machine learning team to quickly integrate new findings as they become available. Photoroom’s custom architecture also improves image creation speed, potentially increasing it by up to 40%. This allows users to create and iterate on images more efficiently compared to other visual AI models.
Photoroom also introduced a new set of AI photo editing tools designed to give businesses increased creative control over their product images. These tools include the ability to create high-quality AI backgrounds, “AI Images” to create custom images, “AI Upscale” to improve resolution, and an “Image Editing API” tailored for business use.
Photoroom revolutionizes professional image creation with AI.
Founded in 2019, Photoroom provides AI-powered photo editing software that allows users to create images without extensive training. The company has achieved more than 150 million downloads worldwide and is adopted by companies including Smartly, Printify, Faire, Bulgari, and Netflix.
Recently, the company introduced a foundational model for small and medium-sized businesses designed to help create professional-quality product images. For businesses that handle a significant amount of image creation and editing, Photoroom has prioritized automating your team’s photo editing workflow by providing an “Image Editing API.” This tool can be integrated into almost any system and integrates the functionality of Photoroom into your customer’s workflow.
This investment, combined with the introduction of the foundational AI model, marks a notable milestone in Photoroom’s efforts to revolutionize AI photo editing for the enterprise, solidifying its position as a leader in AI-based editing tools.
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Alisa is a reporter for Metaverse Post. She focuses on everything related to investing, AI, metaverse, and Web3. Alisa holds a degree in Art Business and her expertise lies in the fields of art and technology. She developed a passion for journalism through her work with VCs, notable cryptocurrency projects, and science writing. You can contact us at (email protected).
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alice davidson
Alisa is a reporter for Metaverse Post. She focuses on everything related to investing, AI, metaverse, and Web3. Alisa holds a degree in Art Business and her expertise lies in the fields of art and technology. She developed a passion for journalism through her work with VCs, notable cryptocurrency projects, and science writing. You can contact us at (email protected).
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