tech
Stability AI, maker of image generator Stable Diffusion, raises $76 million in fresh funding
The company's new fundraising total now stands at $232 million.
TL;DR
- Stability AI raised $76 million in Series B funding, with a total fundraising amount of $232 million.
- Investors include Universal Music Group, Sony Music Group, Warner Music Group, Electronic Arts, AMD Ventures, and Pacific Alliance Ventures.
- The company plans to use the funds to develop its "creative production" product suite and expand its professional services.
- Stability AI offers AI models for music, video, and image generation.
- The company has secured partnerships with entertainment companies to integrate generative AI into their workflows.
- Stability AI largely won a copyright lawsuit in the UK brought by Getty Images regarding its image training data.
- A similar lawsuit from Getty Images is ongoing in the U.S.