Runway, best known for its video-generating AI models, raises $308M

Runway, a startup developing a range of generative AI models for media production, including video-generating models, has raised $308 million in a Series D funding round. General Atlantic led the round, which had participation from Fidelity Management & Research Company, Baillie Gifford, Nvidia, SoftBank, and others. The fresh capital will be put toward AI research and hiring, Runway said in a press release, as well as toward expanding Runway’s Runway Studios film and animation production arm. To date, Runway has raised $536.5 million, according to Crunchbase. “Today marks an important milestone as Runway announces a significant next step towards our goal of creating a new media ecosystem with world simulators,” the company wrote in the press release. “[Our recent] advancements aren’t merely incremental improvements; they form the foundation for an entirely new approach to media — an ecosystem built on AI systems that can simulate our world.” Runway offers a suite of AI media tools ... Read full article.