Recraft raises $12 million in funding to create self-generating AI-powered models.
Posted: January 19, 2024 9:30 AM Updated: January 19, 2024 9:30 AM
UK-based AI graphic design generator Recraft announced today that it has raised $12 million in funding and will use the funds to expand its operating and development efforts and business footprint.
The Series A funding round was led by Khosla Ventures and former GitHub CEO Nat Friedman, with participation from RTP Global, Abstract VC, Basis Set Ventures, Elad Gil, Zhenya Loginov, Dharmesh Shah, and Akshay Kothari.
According to the announcement, the newly invested capital will be dedicated to research and development (R&D), including the goal of creating Recraft’s self-generated AI-based models.
The move aims to reduce the company’s dependence on open source platforms such as Stable Diffusion.
“I truly believe that AI can transform design and impact the way we see the world,” said Anna Veronika Dorogush, founder and CEO of Recraft.
“Recraft is built to meet the needs of professional design, creating consistently styled images and high-quality vector illustrations suitable for everything from advertising and digital marketing assets to iconography.”
What makes Recraft unique?
Founded by Anna Veronika Dorogush in September 2022, the platform was featured on Product Hunt in May last year and offers a natural language user interface. It is user-friendly for both professional designers and marketers.
“We are witnessing a rapid and significant shift in the design space driven by generative AI,” said Nikita Shamgunov, Partner at Khosla Ventures.
“However, many of the generative AI design solutions to date have been aimed at consumers rather than professionals who require a high level of control. Recraft provides professional workflows such as vector imaging, style control, and end-to-end content creation, all based on a self-build-based model.”
The startup specializes in creating graphic designs for professional applications and offers both raster and infinitely scalable vector images. Recraft’s platform allows users to easily create and edit vector art, icons, 3D images, and illustrations while adhering to a brand’s specific stylistic controls, including color palette, icon geometry, and line styles.
This unique feature helps designers create brand assets that aren’t limited to text prompts. Since launching just eight months ago, Recraft’s user base has grown to over 300,000.
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Kumar is an experienced technology journalist specializing in the dynamic intersection of emerging fields including AI/ML, marketing technology, cryptocurrency, blockchain, and NFTs. With over three years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and providing comprehensive insights. Kumar’s specialty is producing high-impact content including articles, reports and research publications for prominent industry platforms. With a unique skill at combining technical knowledge and storytelling, Kumar excels at communicating complex technical concepts in a clear and engaging way to diverse audiences.
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Kumar is an experienced technology journalist specializing in the dynamic intersection of emerging fields including AI/ML, marketing technology, cryptocurrency, blockchain, and NFTs. With over three years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and providing comprehensive insights. Kumar’s specialty is producing high-impact content including articles, reports and research publications for prominent industry platforms. With a unique skill at combining technical knowledge and storytelling, Kumar excels at communicating complex technical concepts in a clear and engaging way to diverse audiences.