Professional generative AI design generator tool, Recraft secures €11M in a Series A fundraising round.
Nat Friedman, the former CEO of GitHub, and Khosla Ventures headed the round. Other angel investors included RTP Global, Abstract VC, Basis Set Ventures, Elad Gil, and others.
With the help of the additional money, this specialized team has moved away from open-source AI platforms like Stable Diffusion and become one of the very few businesses creating their own Foundation Model—a pre-trained, deep learning algorithm.
One of the earliest generative AI design tools, Recraft allows users to create and modify vector graphics, icons, 3D pictures, and illustrations within a brand’s style settings, like the color scheme, icon geometry, and line style. Designers may now produce branded graphics without depending only on text cues thanks to this. Almost 300,000 people have used the service in the eight months since it launched.
Raster pictures are the only output of most generative AI systems, and they are sufficient for most professional design projects. Recraft creates vector pictures that are infinitely scalable as well as raster images to facilitate professional graphic design applications.
Related Content: Generative AI Video startup Immersive Fox Snaps €3.3M
Recraft differs from consumer-focused tools because of its capacity to produce graphics and images of a high caliber. Recraft can advance its machine learning applications with the development of a new Foundation Model for producing sophisticated imagery and graphic designs. This includes style-consistent design elements and groundbreaking capabilities, such as creating sets of icons and images, all made possible through the infusion of new Series A funding.
Recraft’s CEO and founder, Anna Veronika Dorogush, stated: “I genuinely think AI has the power to transform design and change the way we see the world.” Recraft was developed to satisfy the demands of the professional design world, producing style-consistent pictures and excellent vector illustrations fit for everything from iconography to digital marketing assets and advertising. Additionally, we will be able to enhance the consistency and caliber of the AI-generated graphic design as we grow our Foundation Model.
Recraft’s staff has a wealth of machine-learning knowledge and experience. Anna Veronika Dorogush, the founder, asserts that CatBoost stands as one of the most globally utilized machine learning frameworks, with hundreds of thousands of weekly downloads. Top Kaggle contestants and medalists from the International Collegiate Programming Contest make up this highly specialized team.
Since the quality of images that can be produced is ultimately limited by the fine-tuning of Stable Diffusion, the introduction of the Foundational Model will result in a significant improvement in the AI-generated imagery produced.
According to Nikita Shamgunov, a partner at Khosla Ventures, “Generative AI is driving a rapid and significant transformation of the design space. Yet, many of the current generative AI design solutions target consumers rather than providing experts with extensive control. Recraft uses in-house designed foundation models to handle professional workflows including style controls, vector images, and end-to-end content generation. With their wealth of AI and machine learning expertise, Anna Veronika and her team are eager to guide the firm through its Series A.”
“The Recraft team holds a pivotal position in shaping the future of professional generative AI use. They have a deep level of talent and experience in machine learning, combined with their unique focus on professional design and vector graphics foundation models,” said Nat Friedman.
