Recraft, a San Francisco, CA-based AI graphic design generator, has raised $12 million in Series A funding.
SaaS Investors
The round was led by Khosla Ventures and former GitHub CEO Nat Friedman, with participation from RTP Global, Abstract VC, and Basis Set, as well as angel investors including Elad Gil; Zhenya Loginov, former Chief Revenue Officer at Miro; Dharmesh Shah, founder and CTO at HubSpot; and Akshay Kothari, Co-founder of Notion.
Founded in 2004, Khosla Ventures is a venture capital firm based in Menlo Park, California. It invests in a range of areas including AI, climate, sustainability, enterprise, consumer, fintech, digital health, medtech and diagnostics, therapeutics, and frontier technology. The firm provides venture assistance and strategic advice to entrepreneurs working on breakthrough technologies.
Recraft Use of Funds
The company will use the funds to develop its Foundation Model, a pre-trained, deep-learning algorithm, aiming to improve the quality and consistency of AI-generated graphic design.
About Recraft
Recraft is a generative AI design tool that lets users create and edit vector art, icons, 3D images, and illustrations in a uniform brand style. The company differentiates itself from other generative AI tools by developing both raster and infinitely scalable vector images, allowing for professional applications of graphic designs. The company already has over 300,000 users in the eight months since its launch.
Funding Details
Company: Recraft, Inc.
Raised: $12.0M
Round: Series A
Funding Month: January 2024
Lead Investors: Khosla Ventures and Nat Friedman
Additional Investors: RTP Global, Abstract VC, Basis Set, Elad Gil, Zhenya Loginov, Dharmesh Shah, and Akshay Kothari
Company Website: https://www.recraft.ai/
Software Category: AI Graphic Design Generator
Source: https://tech.eu/2024/01/11/hamburg-startup-airfocus-raises-75m-for-product-management-platform/