RunwayStartup developed a variety of generative AI models for media production, including video generating models, collected $ 308 million in the financing round of the D series.
General Atlantic led the round in which Fidelity Management & Research Company, Baillie Gifford, Nvidia, Softbank and others participated. The fresh capital will probably be intended for research and employment of AI, said Runway in press releaseAlso to expand the operation of production and animation in Studios Runway Studios.
Until now, Runway has raised $ 536.5 million, According to Crunchbase.
“Today it is an important milestone, because Runway announces a significant next step towards our goal, which is to create a new media ecosystem with global simulators,” wrote the company in a press release. “[Our recent] Progress is not just incremental improvements; They are the foundations of a completely new approach to the media – an ecosystem built on AI systems that can simulate our world. “
Runway offers a package of AI media tools, including video generating models and images. He faces rigid competition in the space of video generation, including OpenAI and Google. But the company fought for a distinction, concluding a contract with the principal studio from Hollywood and saving hundreds of thousands of dollars to finance movies using AI materials.
This week, Runway released Gen-4, a video generating model that the company claims that it might probably create consistent characters, locations and objects in scenes, maintain “coherent world environments” and regenerates elements from various perspectives and positions in the scenes. With products equivalent to Gen-4 and its recently introduced API interface for video models, Runway hopes to hit $ 300 million annual revenues This 12 months.
One of the possible road blockades is lawsuit Brought by artists against starting and other generative AI firms that accuse the accused of coaching their models in the field of copyright protected by copyright without permission. The runway claims that Doctrine known as permitted use Tarts before legal repercussions. It is not clear yet whether the company will win.