Runway AI, a generative video startup based in New York, has just secured more than $300 million in funding. General Atlantic led the round with support from key-name backers such as Nvidia (NASDAQ:NVDA), Fidelity Management & Research Company, Baillie Gifford, and SoftBank Vision Fund 2, according to Seeking Alpha.
This new funding raises Runway’s valuation to $3 billion, Bloomberg reported.
The investment showcases strong investor confidence in AI-generated media as a promising frontier for innovation. Runway plans to use the new funding to boost research and expand its reach across the media and entertainment industries. The company is also growing its team of researchers and engineers to accelerate the development pipeline.
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Runway AI recently released Gen-4, its most advanced media generation model to date. Gen-4 delivers precise and consistent visual outputs across characters, locations, and objects in multi-scene compositions, and is meant to enable professional-level storytelling and production at scale.
The company also announced the expansion of Runway Studios, which focuses on creating original film and animation projects using the startup’s proprietary foundation models. Runway Studios is a key player in proving its AI models in action, in real-world, commercial settings.
According to Bloomberg, Runway AI’s tools have already been used in a number of high-profile projects, including in scenes for Amazon’s (NASDAQ:AMZN) upcoming House of David series, visuals for a Madonna world tour, and branded content for Puma. Runway’s AI involvement in these productions shows the increasing need for scalable media solutions to deliver quality and efficiency.
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Runway AI has also signed an agreement with Lionsgate to train AI models using the studio’s content. These models can then be used for future movie productions. CEO and co-founder Cristóbal Valenzuela told Bloomberg that the company is developing more partnerships with studios focused on exploring the possibilities of AI-generated content, but he didn’t disclose names.