Seeing is believing
While tech giants focus their AI strategy on content generation, AI-generated visual media is on the rise, with a 90% VC funding increase. It seems fitting that we generated our own AI image to accompany this latest edition of the Weekly Spin, given that investment in AI visual media is on the rise. According to the latest PitchBook data, Q1 2024 saw a nearly 90% increase in deal value, climbing to $402.7 million from the previous quarter’s total of $212.7 million. Technology start-ups are focusing their AI visual solutions on enterprise businesses with the likes of Photoroom, an AI photo editor aimed at ecommerce businesses, raising $43 million. Balderton Capital and Y Combinator were investors in the Series B round. AI visual content is fast becoming an important sub-sector of the generative AI space. Early-stage GPs with the vision to pick out the next best start-ups could benefit, as more investment dollars flow in. It feels like the AI content revolution is only just beginning.