Pika Labs, a startup focused on generative artificial intelligence (AI) for video creation and editing, has raised $55 million in a funding round led by Lightspeed Venture Partners. The funding round also saw participation from Homebrew, Conviction Capital, SV Angel, Ben’s Bites, and notable angel investors including Quora founder Adam D’Angelo, ex-GitHub CEO Nat Friedman, and Giphy co-founder Alex Chung[1].
Pika Labs was co-founded by Demi Guo and Chenlin Meng, both former PhD students in Stanford’s Artificial Intelligence Lab. Guo previously worked as an engineer at Meta’s AI research division, while Meng co-authored several AI research papers, including those pertaining to generative AI[1][8].
The funding announcement coincides with the early access launch of Pika 1.0, a new suite of videography tools that introduces a generative AI model capable of editing videos in a range of styles, such as “3D animation,” “anime,” and “cinematic”[1]. Pika 1.0 claims to generate rich, immersive clips from text, images, or other videos[2]. The model also includes advanced in-situ editing capabilities, such as generating random objects within a scene, a feature previously only possible in image AI[2].
Pika Labs’ mission is to make the process of creating high-quality videos effortless and accessible to everyone. The company has grown its community to half a million users, who are generating millions of videos per week[1]. The company’s product, which was initially available only through the social messaging app Discord, is now accessible through a web platform[2][4].
The funding takes Pika Labs’ total capital raised to $55 million and valuation to nearly $200 million, positioning the company as a notable player in the video AI space[4]. The company’s rapid growth reflects the continued strong demand for generative AI[1].
Pika Labs’ AI-powered platform is seen as a significant advancement in the field of video creation and editing. It allows users to generate and edit videos in diverse styles from simple text prompts, democratizing the skills of a creative video director and producer[8]. The company’s product is already used by over half a million people and is open to anyone who wants to bring their creative vision to life through video[4].
Citations:
[4] https://venturebeat.com/ai/pika-labs-raises-55m-launches-new-ai-video-platform-to-take-on-runway/