Andreessen Horowitz Discussed Backing a Midjourney Rival Seeking $500 Million Valuation

Investment firm Andreessen Horowitz recently signaled to another firm that it was discussing leading a new equity financing for Ideogram, a startup that uses artificial intelligence to create unique images, said a person with knowledge of the situation. The Toronto startup, which has been seeking a $500 million pre-money valuation, doesn’t generate revenue.

Four former Google AI researchers last year founded the company, and in August this year they launched software that generates images based on text descriptions of what …

andreessen horowitz artificial artificial intelligence equity financing ideogram images intelligence investment knowledge midjourney money person startup toronto valuation