Pika Labs Raises $35 Million in Funding for its Video AI Startup

Pika Labs, a six-month-old video AI startup, has announced that it has raised $35 million in a series A round of funding. The funding was led by Lightspeed Venture Partners, along with earlier side rounds, bringing the total raised by the company to $55 million.

In addition to the funding, Pika Labs has also unveiled Pika 1.0, a new web platform that allows users to generate and edit videos in diverse styles such as 3D animation, anime, or cinematic – just from text prompts. This development marks a significant milestone in the rapidly evolving AI-driven video-generation game, putting Pika in direct competition with offerings from Runway and Stability AI.

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