Pika, a Palo Alto, Ca-based provider of an AI video platform, raised $35M in Series A funding.
The round was led by Lightspeed Venture Partners. With this latest round, Pika has raised a total of $55M in the company’s first six months with Pre-Seed and Seed rounds led by Nat Friedman and Daniel Gross. Additional investors included other prominent angel investors in AI, including Elad Gil, Adam D’Angelo (Founder and CEO of Quora), Andrej Karpathy, Clem Delangue (Co-Founder and CEO of Hugging Face and Partner at Factorial Capital), Craig Kallman (Chairman and CEO of Atlantic Records) and Alex Chung (Co-Founder of Giphy), as well as venture firms such as Homebrew, Conviction Capital, SV Angel and Ben’s Bites.
The company intends to use the funds to expand operations and its business reach.
Led by CEO Demi Guo and Chenlin Meng, Pika is an AI video platform that allows anyone to bring their creative vision to life. The first version of Pika launched in beta on Discord in late April of 2023 and today has more than 500,000 users generating millions of videos each week. The company also launched Pika 1.0, a major product upgrade that includes a new AI model that can generate and edit videos in diverse styles such as 3D animation, anime or cinematic, and a new web experience that made it easier to use.
FinSMEs
28/11/2023