The Best New AI Products

Pika Raises $35M for Text-to-Video AI Platform

Pika, a business specializing in generative AI videos, has successfully launched its text-to-video platform, securing $35 million in a Series A funding round led by Lightspeed Venture Partners. Within six months, Pika has raised $55 million and onboarded over 500,000 users, generating millions of videos weekly.

At the core of the Pika 1.0 update is Pika Movie, a new generative model producing professional-caliber videos in various genres. With a user-friendly interface, Pika handles scene rendering, character posing, prop selection, color correction, and AI-assisted transition editing. The web interface improvements focus on account management, sharing, and browsing, with a growing queue for users eager to try version 1.0.

Pika's mission to encourage innovation is evident in the addition of music video creation, enabling users to animate themselves dancing to popular songs. The startup, founded six months ago, aims to provide an easy-to-use interface for video creation, empowering a diverse community to tell their stories and unleash creativity.

In a blog post, Pika expressed excitement about reaching half a million users and emphasized their commitment to advancing technology to create accessible interfaces for video creation.