Ideogram, an innovator in AI that turns text into images, just nailed a huge USD $80 million Series A round, building on its seed funding from last year. This round’s star player? Andreessen Horowitz, a big name in Silicon Valley, backing Ideogram again after their initial investment.
The funding crew includes Index Ventures, Redpoint Ventures, Pear VC, and SV Angel. CEO Mohammad Norouzi, a University of Toronto grad and ex-Google, is steering Ideogram through the booming generative AI space, ignited by ChatGPT’s launch. Seed investors like Waabi’s Raquel Urtasun and GitHub’s Tom Preston-Werner spotted Ideogram’s potential early.
Pre-Series A, they eyed a US$500 million valuation, bold for a revenue-free startup. Ideogram’s latest move? A subscription model packed with more features.
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