Stability AI · United Kingdom · TechCrunch AI
Stability AI, maker of image generator Stable Diffusion, raises $76 million in fresh funding
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Stability AI, the startup behind AI image generation model Stable Diffusion, has raised $76 million in Series B funding.
Key facts
- Stability AI, the startup behind AI image generation model Stable Diffusion, has raised $76 million in Series B funding
- Stability AI CEO Prem Akkaraju, who joined the company in 2024, called the funding “an affirmation of their vision where generative AI empowers every producer, musician, and storyteller
- Stability was also sued in 2023 by the company’s co-founder, Cyrus Hodes, who claimed that he was tricked by the other co-founder, Emad Mostaque, into selling his share in the company
- The company announced the round Tuesday, saying the new capital comes partly from several prominent entertainment industry organizations, including Universal Music Group, Sony Music Group, Warner
Summary
The company announced the round Tuesday, saying the new capital comes partly from several prominent entertainment industry organizations, including Universal Music Group, Sony Music Group, Warner Music Group, and gaming giant Electronic Arts (EA). It’s an unusual roster and a less typical venture round than a lineup of the companies Stability now depends on for content licensing and distribution deals. Stability AI CEO Prem Akkaraju, who joined the company in 2024, called the funding “an affirmation of our vision where generative AI empowers every producer, musician, and storyteller.” The company says it plans to use the money from its latest funding round to continue building out its “creative production” product suite while also expanding its professional services arm.