Runway, known for its AI software that creates short videos from text prompts, nabbed $141M in a Series C extension round from investors including Google, Nvidia, and Salesforce Ventures.

 

Runway, known for its AI software that creates short videos from text prompts, nabbed $141M in a Series C extension round from investors including Google, Nvidia, and Salesforce Ventures.  Runway's Gen-2 tool, which generates videos from text, has gained popularity among a diverse user base, from movie directors to small creators. The Gen-2 software, released earlier this year, is described as the "first publicly available text-to-video model on the market." It also generates videos from existing images. The model is an upgrade from its Gen-1, which takes pre-existing videos and edits them using text or image prompts. Using the fresh funding, New York-based Runway plans to scale its research, expand its team, and launch more bring multi-modal AI systems. The $141M Series C extension values the company at $1.5B and brings its total funding to $237M, making it among the top 10 most well-funded generative AI startups.