Pika, which is building AI tools to generate and edit videos, raises $55M

Trending 3 months ago

The abundant AI advertising hasn’t died bottomward yet.

Case in point, Pika, a startup creating an AI-powered belvedere to adapt and accomplish videos from captions and still images, today appear that it aloft $55 actor in a allotment annular led by Lightspeed Venture Partners with accord from Homebrew, Conviction Capital, SV Angel, Ben’s Bites and notable angel investors including Quora architect Adam D’Angelo, ex-GitHub CEO Nat Friedman and Giphy co-founder Alex Chung.

The beginning tranche comes aloof six months afterwards Pika emerged from stealth and coincides with the aboriginal acceptance barrage of what Pika’s calling “Pika 1.0,” a new apartment of videography accoutrement that introduces a abundant AI archetypal able of alteration videos in a ambit of styles, like “3D animation,” “anime” and “cinematic.”

Image Credits: Pika

“Video is at the affection of entertainment, yet the action of authoritative high-quality videos to date is still complicated and resource-intensive,” Pika writes in a blog post appear on its website this morning. “When we started Pika six months ago, we capital to advance the boundaries of technology and architecture a approaching interface of video authoritative that is effortless and accessible to everyone. Since then, we’re appreciative to accept developed the Pika association to bisected a actor users, who are breeding millions of videos per week.”

Pika was co-founded by Demi Guo and Chenlin Meng, both above Ph.D. acceptance in Stanford’s Artificial Intelligence Lab. Prior to belief at Stanford, Guo formed as an architect at Meta’s AI analysis division, while Meng co-authored a cardinal of AI analysis affidavit including several pertaining to abundant AI.

Pika Labs

Image Credits: Pika

Pika competes adjoin abundant AI video accoutrement and models from the brand of Runway and Stability AI. But with Pika 1.0, Pika’s attractive to up its bold with several appropriate features.

For example, Pika 1.0 ships with a apparatus that can extend the breadth of absolute videos or transform them into altered styles, like “live action” to “animated” — or aggrandize the canvas or aspect arrangement of a video. Another bore edits video agreeable application AI, like alteration someone’s accouterment or alike abacus addition character.

We’ll accept to put those capabilities to the analysis already Pika 1.0 becomes broadly available. But for what it’s worth, Lightspeed — which is additionally an broker in Stability AI — has aplomb in the belvedere — alike as tech giants like Google and Meta telegraph that they, too, are alive on abundant AI accoutrement for video. 

Pika Labs

Image Credits: Pika

“Just as added new AI articles accept done for argument and images, professional-quality video conception will additionally become democratized by abundant AI. We accept Pika will advance that transformation,” Lightspeed’s Michael Mignano said in a columnist release. “Given such an absorbing abstruse foundation, abiding in an aboriginal affection for creativity, the Pika aggregation seems destined to change how we all allotment our belief visually. At Lightspeed, we couldn’t be added aflame to abutment their mission to acquiesce anyone to accompany their artistic eyes to activity through video, and we’re captivated to be advance alongside added amazing investors at the beginning of AI.”

Pika’s accelerated advance is cogitating of the continued, able appeal for abundant AI of all flavors — from accoutrement like Midjourney and DALL-E 3 to ChatGPT.

In a contempo report, IDC projected that abundant AI investments will acceleration from $16 billion this year to a whopping $143 billion in 2027. While abundant AI accounts for aloof 9% of all-embracing AI spending in 2023, the close expects that’ll access to 28% aural bristles years.

The spending ability aloof be justified. A contempo poll — admitting focused alone on users from the U.K. — begin that Gen Z is all-embracing abundant AI, with four in bristles (79%) teenagers age-old 13-17 advertisement accepting acclimated abundant AI tools, apps and casework including ChatGPT and Snapchat’s My AI.

Then again, Gen Zers aren’t necessarily paying for abundant AI. And action customers, which accept the better coffers to absorb on it, are encountering hurdles deploying some forms of the tech.

O’Reilly’s 2023 abundant AI in the action report reveals that abounding accumulated AI adopters (26%) are still in the aboriginal stages of aerodynamics abundant AI, and are acutely afraid about the abeyant challenges present and approaching surrounding the tech — including abrupt outcomes, security, safety, fairness, bent and privacy. The adversity of award business use cases and apropos about acknowledged issues (like who owns the absorb over AI-generated output) are captivation abundant AI back, the address implies, as are badly-conceived and poorly-implemented AI solutions.