Captured By Tracy D'souza / 2:33 pm on 1 July 2024
Greycroft Partners and Sean Parker's Retspan fund invested a combined $32 million in Stability.AI, highlighting a shift towards AI investments as crypto venture opportunities wane. Stability.AI, known for its Stable Diffusion model, also attracted funding from Lightspeed Ventures, Coatue, and Eric Schmidt. The company raised $51 million by issuing nearly 2 million shares and plans to sell additional shares for $29 million. Prem Akkaraju was appointed CEO, earning a base salary of $500,000 annually.
