Stability AI is a company funding the development of open-source image-generating and music systems such as Stable Diffusion and Dance Diffusion. Stable Diffusion, launched in August this year, is a free and open-source text-to-image generator. As of now, it has been downloaded and witnessed licensing by more than 200 000 developers worldwide.
The funding round was led by Coatue and Lightspeed Venture Partners. Among other participants was O’Shaughnessy Ventures LLC. With the new funding, Stability AI reaches unicorn status. “Stability AI is a big idea that dreams beyond the immediate applications of AI. We are excited to be part of Stability AI’s journey, and we look forward to seeing what the world creates with Stability AI’s technology,” Sri Viswanath, a general partner at Coatue.
Stability AI, San Francisco, USA, was founded by Emad Mostaque in 2019. Money raised will be used for the support of deploying custom versions of Stable Diffusion for users at a larger scale. Moreover, the company plans to enlarge its employee team up to 300 from the existing 100 people. Stability AI also has another project related to generating audio, language, and video. Dance Diffusion tool is a technology and set of tools for the creation of music clips based on hundreds of hours of training on existing songs.