Arcade, a San Francisco, CA-based AI product creation platform provider, raised $17M in total funding.
The rounds include: a first investment of $5m, co-led by Reid Hoffman and Brit Morin of Offline Ventures with Heretic Ventures participating, and an additional investment of $5m led by Ashton Kutcher of Sound Ventures. Additional investors include:
- Sharon Zhou, co-founder and CEO, Lamini, CS faculty at Stanford
- Alexa von Tobel, Founder and Managing Partner, Inspired Capital
- Colin Kaepernick, founder of Lumi, investor and former NFL quarterback
- Christy Turlington Burns, founder and CEO of Every Mother Counts
- David Luan, CEO of Adept AI Labs, former tech lead of large models effort at Google, and former VP of engineering at OpenAI
- Elad Gil, entrepreneur and investor
- Ev Williams, CEO and co-founder at A Medium Corp., and co-founder of Twitter
- Jeff Wilke, former CEO, Worldwide Consumer at Amazon
- Karlie Kloss, entrepreneur and philanthropist
Founded by Mariam Naficy – founder of Minted – Arcade provides a platform that “turns your thoughts into things”, allows anyone, with a few words or an image, to instantly create priced physical products for fun, sharing, purchase or sale. It allows consumers to define and share their design identity by creating their own AI-generated products across a variety of categories. Through the technology and its network of makers, users’ designs can be immediately purchased and translated into physical form by a maker – an artisan, brand, or manufacturer in Arcade’s global marketplace – or collected and shared as a new form of design-forward social content.
Arcade was just announced publicly in beta. The platform will launch initially with jewelry and will expand to other categories later this year.
FinSMEs
25/09/2024