Photoroom, the globally renowned AI photo editor, has successfully closed a €40 million Series B funding round, led by existing investor Balderton Capital and new investor Aglaé Ventures. YCombinator also participated in this round, bringing Photoroom’s total funding to an impressive $64 million.
Cameron Curtis, EVP of Worldwide Digital Marketing at Warner Bros, expressed his admiration for Photoroom, stating, “Photoroom shattered all expectations. Its unparalleled ease of use became the catalyst for propelling the Barbie Selfie Generator into the digital spotlight, and captivating audiences worldwide.”
The latest funding round comes as Photoroom unveils its groundbreaking foundation model, Photoroom Instant Diffusion (Photoroom ID). This revolutionary model is custom-designed for product photography, ensuring consistency in style across images from different sources, as if shot in the same setting.
Matthieu Rouif, co-founder and CEO at Photoroom, emphasized the significance of the foundation model, stating, “The foundation model is the next step in empowering businesses to create amazing product photos without the need to be an expert at prompt engineering or photography. Our model has been trained to excel at product photography and can quickly adapt to user needs and feedback.”
Photoroom’s custom model control allows for the integration of new research, resulting in a 40% increase in image generation speed. This empowers users to generate and iterate on images more efficiently compared to other visual AI models.
Founded in 2019, Photoroom has played a pivotal role in the commerce photography space, initially gaining recognition with its best-in-class background remover. Over the past four years, it has expanded its offerings to include a batch photo editor and generative AI features such as AI Backgrounds and AI Shadows.
The funds raised in this Series B round will be instrumental in advancing Photoroom’s generative AI capabilities. The company plans to invest in more GPUs, acquire imagery from leading providers and photographers, and double the size of its team by the end of 2024 by hiring top-tier AI talent.
Photoroom’s commitment to innovation is evident in its suite of advanced AI photo-editing tools for businesses, including AI Backgrounds, AI Expand, AI Images, AI Fill, Auto-rotate, AI Upscale, and an Image Editing API. These tools provide enhanced creative control, enabling businesses to generate, edit, and refine product images efficiently.
The collaboration with global photographers and image providers ensures a diverse dataset with proper consent. For businesses handling a high volume of images, Photoroom focuses on automating workflows through its Image Editing API, already utilized by teams at Smartly, Printify, Faire, Bulgari, and Netflix.
Photoroom plans to make its latest generative AI features accessible through the API in the coming months, providing businesses with even more streamlined and efficient image editing capabilities.
Balderton Capital, with over 20 years of experience, supports European founders from Seed to IPO. Aglaé Ventures, backed by the Arnault family’s holding company, Agache, specializes in marketplaces, software, and content platforms. YCombinator, founded in 2005, has supported over 3,000 funded companies, with a $600B+ combined valuation for alumni.