Recraft raises £10m for generative AI graphic design tools

London-based graphic design generator Recraft has raised $12m (£10m) to fund an R&D drive that features growing its personal generative AI basis mannequin.
Launched eight months in the past, Recraft is capitalising on the speedy advances in generative AI know-how, which lets customers create property like pictures or video from textual content prompts.
Recraft has created AI tools utilized by over 300,000 designers to generate property like vector pictures and illustrations that match an organization’s model tips.
The firm mentioned it would use the inflow of capital for R&D, together with the creation of its personal basis mannequin so it doesn’t must depend on open supply platforms like Stable Diffusion.
The Series A funding spherical was led by Khosla Ventures and former GitHub CEO Nat Friedman.
Additional funds have been offered by RTP Global, Abstract VC, Basis Set Ventures, Elad Gil and different angel buyers.
“I really consider that AI has the power to reshape design and affect the way in which that we take a look at the world,” mentioned Anna Veronika Dorogush, founder and CEO of Recraft.
“Recraft was created to satisfy the necessities {of professional} design, producing constant type pictures and high-quality vector illustrations appropriate for every thing from promoting and digital advertising and marketing property to iconography.”
Recraft mentioned its personal basis mannequin will enhance the standard of AI-generated pictures on its platform as it could fine-tune the mannequin to satisfy its personal necessities.
“We are seeing speedy and important transformation of the design house pushed by generative AI,” mentioned Nikita Shamgunov, companion at Khosla Ventures.
“But thus far, most of the generative AI design options have been concentrating on customers, slightly than professionals that require excessive levels of management. Recraft delivers on skilled workflows equivalent to vector pictures, type controls and end-to-end content material manufacturing, all powered by in-house constructed basis fashions.”
Last yr generative AI took the world by storm following the launch of Open AI’s superior chatbot ChatGPT.
In the UK, AI firms raised $4.5bn in funding final yr, in response to information from HSBC Innovation Banking and Dealroom.
While this marked a 29% year-over-year enhance, it was local weather tech that got here out on prime at $6.2bn.

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