Stability AI announces $101 million in funding for open source artificial intelligence | Tech Rasta

Top Open Source Investors Cotue and Lightspeed Venture Partners Back Sole Independent Multimodal AI Company in Oversubscribe Round

London And San Francisco, October 17, 2022 /PRNewswire/ — Stability is AI The world’s first community-driven, open-source artificial intelligence (AI) company today announced USD $101 million in funds. The oversubscribed round was led by Coteau, Lightspeed Venture Partners and O’Shaughnessy Ventures LLC. Stability AI will use the funding to accelerate the development of open AI models for image, language, audio, video, 3D and more for consumer and enterprise use cases around the world.

“AI promises to solve some of humanity’s biggest challenges. But we will only realize this potential if the technology is open and accessible to all,” he said. Emad Mostak, founder and CEO of Stability AI. “Stability puts power back into the hands of AI developer communities and opens the door to new applications. An independent company supporting these communities can create real value and change in this space.”

The company behind Stability AI Constant diffusion, a powerful, free and open source text-to-image generator launched in August. Since its launch, Stable Diffusion has been downloaded and licensed by more than 200,000 developers worldwide. Sustainability is a user-facing product of AI DreamStudioQuickly grew to one million registered users from more than 50 countries who collectively created more than 170 million images.

“At Cotulo, we believe that open source AI technologies have the power to unlock human creativity and achieve greater good,” he explained. Shri Vishwanath, general partner at Coatue. “Stability AI is a big idea that dreams beyond the immediate applications of AI. We are excited to be a part of the journey of Stability AI, and we look forward to seeing what the world creates with Stability AI’s technology.”

“At Lightspeed, we believe an independent company like Stability AI is best positioned to democratize generative AI. The company’s open-source model, along with its collaboration with AI developer communities, has allowed it to innovate rapidly and make technology freely available to people everywhere,” said Gaurav GuptaPartner at Lightspeed Venture Partners.

Sustainability is what AI is all about

Headquartered in London With developers distributed around the world, stability AI is established Emad Mostak The first open source, artificial intelligence (AI) company developing breakthrough technologies for the benefit of humanity and the world. For more information, visit Stability.AI.

Contact the media
[email protected]

Source Stability AI

Source link