Leonardo Ai, an Australian image generation start-up, has secured $47 million in funding from investors to further develop its AI technology. The company, based in North Sydney, offers users the ability to generate images online with text prompts and train its software on new visual styles. Additionally, it has unveiled a new tool that allows users to edit the results with simple drawings in real time. Despite facing competition and challenges such as high drop-off rates from users and the cost of running AI models in the cloud, Leonardo Ai is rapidly expanding its user base and is focused on building more tools for businesses, including the ability to work with 3D images and videos. The recent investment, led by Blackbird Ventures and Side Stage, will support the company’s growth and the improvement of its AI tools. With a strong focus on improving efficiency and reducing computing demands, Leonardo Ai aims to solidify its position in the AI image generation market.
Read the full story: The Australian Financial Review
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