Pika Labs, a California AI startup, came out of the gate strong recently with the simultaneous announcement of Pika 1.0, the company’s first generative AI video software, and $55 million in venture funding.
Not bad for six months of work from two former Stanford University PhD students.
Demi Guo and Chenlin Meng were seeking their PhDs at Stanford’s Artificial Intelligence Lab when they formed Pika which allows users to enter text describing what they want to see and have Pika output the request as video.
Pika isn’t the only tool delivering gen AI video, with companies like Runway and Stability AI both offering text-to-image/video tools.
With Pika users can also manipulate existing video, extending its length, or even switching styles from live action to animated with a few prompts.
A company blog post set some lofty goals, saying ““When we started Pika six months ago, we wanted to push the boundaries of technology and design a future interface of video making that is effortless and accessible to everyone.”
Introducing Pika 1.0, the idea-to-video platform that brings your creativity to life.
Create and edit your videos with AI.
— Pika (@pika_labs) November 28, 2023
The possibilities are endless and open up the world of video effects to the masses.
The company has brought a lot of buzz and venture funding to help the company expand its mission.
Lightspeed Venture Partners led the way to the $55 million in an initial funding round with a host of angel investors hopping on including Quora CEO and OpenAI board member Adam D’Angelo, ex-GitHub CEO Nat Friedman, and Giphy co-founder Alex Chung
The text-to-video-gen AI arena is likely to get very crowded in the short term with both Google and Meta working on similar tools.