Fal, a startup that hosts image, video, and audio AI models for developers, announced it has raised $140 million in Series D led by Sequoia, with participation from Kleiner Perkins, Nvidia, and other existing investors. Existing investors include Andreessen Horowitz.
The latest round of funding, Fal’s third this year, values the company at $4.5 billion, nearly triple what the company was valued at when it raised $125 million in Series C funding in July, according to Bloomberg.
TechCrunch reported in October that Fal had raised a new round from investors including Sequoia and Kleiner Perkins at a valuation of more than $4 billion. Sources also reported at the time that the amount raised was approximately $250 million. The increase reflects $140 million in capital raised from the company and a secondary sale in which existing investors sold their shares, people familiar with the transaction told TechCrunch.
Fal provides an infrastructure layer for multimodal AI for customers such as Adobe, Shopify, Canva, and Quora. Founded in 2021 by Burkay Gur (former Coinbase machine learning leader) and Gorkem Yurtseven (former Amazon developer), the company already had revenue of over $200 million as of October, Bloomberg reported.
Source link
