Today: Jun 14, 2024

Recraft’s 22-slide deck helps secure $12M from Khosla Ventures and Nat Friedman!

5 months ago

TLDR:

– London-based generative AI startup Recraft has raised $12 million in Series A funding
– The funding round was led by Khosla Ventures and former GitHub CEO Nat Friedman, with participation from other investors
– Recraft enables businesses to generate high-quality images, including logos, for their own use

Recraft, a generative AI startup based in London, has secured $12 million in Series A funding. The company offers tools that allow businesses to create high-quality images, such as logos, for their own branding, marketing, and print purposes. Recraft’s CEO and founder, Anna Veronika Dorogush, explained that the startup aims to train its own model to generate images of the highest quality and resolution, ensuring accuracy and consistency for professional use cases.

Recraft’s latest funding round was led by Khosla Ventures and Nat Friedman, former CEO of GitHub. Other investors, including RTP Global, Abstract VC, Basis Set Ventures, Elad Gil, and several angel investors, also participated. The startup initially sought to raise $10 million but increased the round size due to overwhelming interest from investors.

The funding will be used to support the training and scaling of Recraft’s AI models, as well as to expand the team by hiring new frontend and machine learning staff. The company plans to continue fine-tuning its own model and conducting research to shape the future of the industry.

Despite not investing in marketing, Recraft has amassed over 350,000 users through word-of-mouth referrals. The startup aims to provide businesses with the tools they need to create professional images that align with their brand colors and logos.

Recraft was founded in 2022 and closed its funding round in autumn 2023. The company’s success highlights the growing demand for AI-generated images and the potential for generative AI technology to revolutionize various industries.