Ideogram

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.

Want to know more? Check out the source code on The Logic.

Toronto-based AI startup Ideogram has unveiled its platform backed by $22.3 million in seed funding. The funding was led by Andreessen Horowitz and Index Ventures, with participation from AIX Ventures, Golden Ventures, and Two Small Fish Ventures.

Ideogram’s team includes former leaders of AI projects at Google Brain and UC Berkeley. CEO Mohammad Norouzi, a former senior staff research scientist at Google, heads the team.

The platform, similar to OpenAI’s DALL-E, uses generative AI to produce images from text prompts. Ideogram emphasizes trust and safety and offers various rendering styles.

Want to know more? Check out the source code on BetaKit.