Ideogram, a Toronto, Canada-based artificial intelligence (AI) startup specializing in generative text-to-image technology, raised $22.3 million CAD in a seed round.
SaaS Investors
Andreessen Horowitz (a16z) and Index Ventures, co-led the round. Additional investors include AIX Ventures, Golden Ventures, Two Small Fish Ventures, Canadian computer science professor Raquel Urtasun (founder of Waabi), Sarah Guo (founder of Conviction), and Tom Preston-Werner (co-founder of Github), among others.
Andreessen Horowitz (known as "a16z") is a venture capital firm that backs bold entrepreneurs building the future through technology. The firm invests in seed to late-stage technology companies, across the consumer, enterprise, bio/healthcare, crypto, fintech, and games spaces.
Founded in 1996, Index Ventures is a venture capital firm based in London, England. The firm seeks to invest in companies operating in artificial intelligence, machine learning, business applications, data, entertainment, fintech, the future of work, healthcare, media, mobility, open source, retail, security, and talent sectors.
About Ideogram
Ideogram is an AI startup that offers generative text-to-image technology. The company's platform is designed to generate images from text prompts, with a focus on creativity and accessibility. Ideogram's mission is to help people become more creative through generative AI by developing tools that make creative expression more attainable.
Ideogram is currently hiring for several roles in engineering, research, design, and operations in Toronto.
Funding Details
Company: Ideogram
Raised: $22.3M CAD
Round: Seed Round
Funding Month: August 2023
Lead Investors: Andreessen Horowitz (a16z) and Index Ventures
Additional Investors: AIX Ventures, Golden Ventures, Two Small Fish Ventures, Raquel Urtasun, Sarah Guo and Tom Preston-Werner
Company Website: https://ideogram.ai/
Software Category: Generative AI Text to Image Platform
Source: https://betakit.com/ideogram-launches-with-22-3-million-cad-for-generative-ai-text-to-image-platform-like-dall-e