[Funding alert] Paris-based Photoroom Secures $43 Million in Series B Round Funding
Feb 28, 2024 | By Startup Rise EU
Paris-based Photoroom secures $43 million in series B round funding. This round was led by returning investor Balderton Capital, welcomed newcomer Aglaé, and continued to receive backing from YCombinator.
Since its founding in the beginning of 2019, Photoroom has raised almost $64 million. Unlike the majority of businesses, services, and other entities that have adopted the "tehy have added AI to their feature lineup" craze, many of which rely on models that have been externally trained, Photoroom has to do its own training and plans to use the additional funding to accelerate its innovation in generative AI.
Read also - London-based KLIQ Secures €1.4 Million in Pre-Seed Funding
The company claims that in order to increase the capabilities of its model, it will need to purchase additional GPUs and obtain imagery from top photographers and image providers.
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Photoroom co-founder and CEO Matthieu Rouif elaborates: “The foundation model is the next step in empowering businesses to create amazing product photos without the need to be an expert at prompt engineering or photography. Our model has been trained to excel at product photography and can quickly adapt to user needs and feedback. We are not only increasing the speed of our model, but also optimising for quality, through higher resolution, more detailed images, and a larger training dataset than ever before.”
About Photoroom
The best AI photo editor in the world is Photoroom. Their goal is to empower more individuals with the capacity to create powerful photos. Businesses are elevated by Photoroom's stunning photography. They employ AI to make photo editing fun and straightforward, with professional-looking results.