ImagenAI, a startup using AI to help professional photographers edit photos and automate post-production work, today announced that it raised $30 million in an all-equity growth investment from Summit Partners. The new capital brings Imagen’s total raised to $34 million, and co-founder and CEO Yotam Gil tells TechCrunch that it’ll be used to expand the startup’s software-as-a-service offering through mergers and acquisitions and product research and development.
Imagen’s success comes as investors grow increasingly bullish on AI tools for generating and editing artwork, including photorealistic art. Cupixel, whose AI tech takes images to create outlines of the photo for drawings or paintings, recently raised $5 million. Meanwhile, Runway ML, which is developing an AI-powered creative suite for artists and which was a major research contributor to the text-to-image AI Stable Diffusion, landed $50 million in ...
