On June 4, 2024, the AI video generation startup headquartered in San Francisco, USA,Pikaannounced it had raised a new $80 million funding round, bringing its valuation to $470 million. Investors in this round include Spark Capital, Lightspeed Venture Partners, and Greycroft.
The company plans to use the raised funds to continue training its AI models, while improving product features and expanding its team.
Pika was founded in 2023 and co-founded by former Stanford University AI doctoral students Demi Guo and Chenlin Meng. The company is dedicated to developing tools that can generate short videos based on text prompts, allowing users to adjust video aspect ratios, extend video length, edit specific parts, and change details such as characters' clothing. Pika's team is composed of former AI researchers from well-known tech companies such as Google, Meta, and Uber, and possesses a strong technical background and professional expertise.
(Source:The Washington Post）