Stability AI, a London, UK-based community-driven, open-source artificial intelligence (AI) company, raised $101M in funding.
The round was led by Coatue, Lightspeed Venture Partners, and O’Shaughnessy Ventures.
The company intends to use the funds to accelerate the development of open AI models for image, language, audio, video, 3D, and more, for consumer and enterprise use cases globally.
Led by Founder and CEO Emad Mostaque, Stability AI is the company behind Stable Diffusion, a free and open-source text-to-image generator that launched in August. Since launching, the product has been downloaded and licensed by more than 200,000 developers globally. Its consumer-facing product DreamStudio, an open-sourced image generation model that cultivates autonomous freedom to produce incredible imagery, grew to over a million registered users from more than 50 countries who collectively have created more than 170 million images.
FinSMEs
18/10/2022