Stability AI raises $76 million, backed by major music groups
The $76 million Series B includes Universal, Sony and Warner's music groups, Electronic Arts and AMD Ventures.
The round
Stability AI announced a $76 million Series B on August 25, bringing total funding to $232 million. Investors include Universal Music Group, Sony Music Group, Warner Music Group, Electronic Arts, AMD Ventures and Pacific Alliance Ventures. No valuation was disclosed.
Direction
The company builds models for music, video and image generation. CEO Prem Akkaraju called the round "an affirmation of our vision where generative AI empowers every producer, musician, and storyteller." The money will expand its creative production suite and professional services arm.
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