Google strengthens stable diffusion with runway investment

Google strengthens stable diffusion with runway investment

San Francisco, 6/2/2023

Google has invested in Runway, a New York-based startup that uses AI to create and transform images and videos from text prompts and more.

The undisclosed investment was reportedly part of Runway’s recent $100 million funding round, which values the company at $1.5 billion.

Background: Runway is one of the startups behind the popular text-to-image generator Stable Diffusion. It offers several products known as „AI Magic Tools“ for editing and creating images and videos:

► Runway’s Gen-1 allows users to enter an existing video and change its style using a text prompt, image or current style.

► Gen-2 can synthesize original videos from a single text or image prompt, combined text and image prompts, or source video and driving images.

► It also has a new iOS app that allows you to change the style of videos on iPhones using text, image and presentation prompts.

Runway’s $100 million Series D funding round reportedly tripled Runway’s valuation from its Series C funding round, which closed in December. According to Business Insider, the Series D round involved an unidentified cloud service provider and not a traditional VC firm.

Google has made equity investments in AI startups, offering cash and Google Cloud credits in exchange for equity. As part of these deals, Google is asking startups to select Google as their preferred cloud provider. Runway is also expected to do the same.