Startup Ideogram Raises $80 Million for AI Image Generation
Feb 28, 2024 - bloomberg.com
Toronto-based startup Ideogram, which is developing artificial intelligence image generation technology, is set to announce a $80 million Series A funding round. The round, significant for a company less than two years old, is being led by Andreessen Horowitz, with participation from Index Ventures, Redpoint Ventures, Pear VC and SV Angel.
Ideogram's CEO and co-founder, Mohammad Norouzi, confirmed the news to Bloomberg but the company declined to disclose its valuation. This funding round announcement is expected to be made on Wednesday.
Key takeaways:
Ideogram, an AI image generation tech company, is raising $80 million from investors.
The funding round is significant for a startup that's less than two years old.
The Series A funding round, led by Andreessen Horowitz, will be announced on Wednesday.
Other participants in the funding round include Index Ventures, Redpoint Ventures, Pear VC and SV Angel.
