AI COMPANY MOONVALLEY RAISES $70 MILLION IN FUNDING TO DEVELOP FUTURE OF GENERATIVE MEDIA

LOS ANGELES, Nov. 18, 2024 /PRNewswire/ -- Moonvalley, a leading imagination research company building state-of-the-art generative AI creative models and tools, announced today it has raised $70 million in funding to date. This capital infusion will propel the development of groundbreaking AI tools and models designed to enhance trust, transparency, and efficiency within the media industry.

The company plans to use this funding to continue advancing AI research, developing creative tools and deep learning models. Working with a world class team of researchers, engineers and artists from companies like Deepmind, Google, Meta, TikTok, Microsoft and more, their goal is to build an artist-first creative suite for the film industry and creatives, cementing Moonvalley as a pioneer in the video model space.

"We're energized by this incredible support, which accelerates our mission to build frontier foundational video models," said Naeem Talukdar, Moonvalley Co-founder and CEO. "Our team consists of the best researchers in the world who are dedicated to this vision and this new capital enables us to push the boundaries of creative technology and design a new model that empowers and supports artists. Together, we're driving transformative solutions that will shape the future of media in unprecedented ways."

As the relationship between media and AI continues to evolve rapidly and not without skepticism, Moonvalley aims to establish itself as the most trusted partner for media organizations, building a trusted creative suite for the film industry and creatives. The new funding will also be directed towards expanding the company's research and development efforts, hiring top talent, and accelerating the deployment of its cutting-edge AI solutions.

The funding round was led by General Catalyst & Khosla Ventures, with participation from Bessemer Ventures. Partners are Hemant Taneja, Samir Kaul & Byron Deeter, as well as Alexa Liataud (GC), Janelle Teng at Bessemer and Vinod Khosla.

"Moonvalley is advancing the entertainment industry by bringing together world-class talent to custom build generative AI video tools for filmmakers, artists, and brands" said Hemant Taneja, CEO and Managing Director of General Catalyst.

As Moonvalley leads the industry into the future, the company remains dedicated to collaborating with partners to tailor solutions that meet their unique needs, ultimately setting new standards for excellence and reliability in the media industry.

ABOUT MOONVALLEY 
Moonvalley is a deep learning research company building the next-generation of tools for creatives. Led by a founding team of Naeem Talukdar, John Thomas, Mateusz Malinowski, Bryn Mooser and Mikolaj Binkowski, Moonvalley has assembled an impressive team of researchers from DeepMind, Google, Meta, Microsoft, TikTok, and more.

SOURCE Moonvalley

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