Nvidia-Backed AI Image Startup Raises $9M More

Canadian AI image manipulation startup Wombo has secured $9 million in a new funding round led by Round13 Digital Asset Fund with participation from Nvidia and CoreWeave.

The company has raised more than $15 million to date. 

Wombo CEO Ben-Zion Benkhin called the investment “a testament to Wombo’s vision of making AI-powered creativity accessible to everyone.” 

“With the support of industry leaders like CoreWeave and Nvidia, we're well-positioned to scale our technology globally and continue delivering chart-topping hits that reimagine how people interact with AI in their daily lives,” Benkhin said. 

Wombo officials said the company has been experiencing steady growth that’s been driven by growing interest in AI innovation, partially for entertainment uses. The company recently surpassed 200 million downloads across its AI applications. 

Wombo plans to use the funding for team expansion and to accelerate product development, as well as to support the creation of w.ai project, which the company said will build the world’s largest AI supercomputer. 

Wombo said w.ai will turn idle devices such as MacBooks, smartphones or PlayStations into “AI workers,” enabling users to share computing power and earn rewards. 

The partnership would allow Wombo users to join the w.ai platform, contributing to and benefiting from a new era of decentralized AI computing.

Related:AI Image-Generation Models and Tools: The Ultimate List

Wombo’s AI application strategy has led to partnerships with major tech providers including Nvidia. Advanced products such as Nvidia’s Picasso meet Wombo's requirements for dependable and scalable AI, the company said.  

“Generative AI is changing the way entertainment is delivered,” said Phil Eisler, vice president of GPU Delivery Network at Nvidia. “Wombo is helping shape and scale cutting-edge experiences to its millions of users worldwide.”

Wombo launched Wombo Dream in February 2021, an AI generator tool that turns words into images using a smartphone and lets users share those images. 

"Wombo's track record of creating viral, AI-powered apps is unparalleled in the consumer space," said Khaled Verjee, managing partner at Round13 Digital Asset Fund. "Their vision for democratizing AI creativity, particularly with w.ai, aligns perfectly with the future we see for consumer technology.”