[Funding alert] London-based Recraft Raises €11 Million in Series A Round Funding

With the help of the extra funding, this specialised team has been able to move out of 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.

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With the development of a new Foundation Model to produce sophisticated imagery and graphic designs, style-consistent design elements, and industry-first capabilities like the ability to create sets of icons and images, Recraft is able to advance its use of machine learning thanks to the new Series A funding.

Anna Veronika Dorogush, founder and CEO of Recraft, commented: “I truly believe that AI can reshape design and influence the way that we look at the world. Recraft was created to meet the requirements of professional design, generating consistent style images and high-quality vector illustrations suitable for everything from advertising and digital marketing assets to iconography. And the development of our Foundation Model will enable us to improve the quality and consistency of the AI-generated graphic design.”

Recraft's staff has a wealth of machine-learning knowledge and experience. With hundreds of thousands of downloads per week, CatBoost is one of the most widely used machine learning frameworks worldwide, according to its founder, Anna Veronika Dorogush.

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Nikita Shamgunov, Partner at Khosla Ventures, said: “We are seeing rapid and significant transformation of the design space driven by generative AI. But to date, many of the generative AI design solutions have been targeting consumers, rather than professionals that require high degrees of control. Recraft delivers on professional workflows such as vector images, style controls and end-to-end content production, all powered by in-house built foundation models. Anna Veronika and her team have extensive experience in AI and machine learning and we are excited to lead the company Series A.”

Nat Friedman added: “The Recraft team has a deep level of talent and experience in machine learning, and combined with their unique focus on professional design and vector graphics foundation models, sets them up to play a key role in the future of professional use of generative AI.”

About Recraft

One of the earliest generative AI design tools, Recraft was founded in 2022 and allows users to create and modify vector graphics, icons, 3D pictures, and illustrations within a brand's style settings, like colour scheme, icon geometry, and line style. Designers may now produce branded graphics without depending only on text cues thanks to this.

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