Luma AI Raises $43M To Build AI That Creates 3D Object

Luma AI, a company that lets users generate 3D things on their smartphones is founded by Alex Yu and Amit Jain. Alex Yu is an AI researcher and Amit was an Apple employee who worked in the building of Apple Vision Pro. They both use their expertise and knowledge to create a powerful AI-based tool that makes it very easy for people to create objects in 3D without using expensive equipment.

the company launched an app named Luma AI for iOS users in 2021. The app quickly went viral on social media and many people started using this app mainly to create drone-like footage without using a drone. This app is capable of converting a normal video into cinematic drone footage.

Luma AI Raised $43 Million

Luma AI Raised $43 Million

Luma raised $43 Million in Series B which was closed at the beginning of this year. Luma raised money to expand its capabilities and functions. An informed source has confirmed Luma’s valuation at $200-$300 million, with the company holding over $70 million in financial reserves.

This year Luma AI launched an AI model that is capable of generating 3D objects. Luma wants to build their dominance in the AI 3D object generation industry. The have recently launched Luma Genie which is a revolutionary, in-development generative 3D foundation model, still undergoing research. Users can access Genie through Discord and use it to generate 3D objects within a matter of seconds.

What are the Future Plans of Luma AI

Focus on Multimodal AI: Luma AI aims to lead in advanced multimodal AI, merging visual and language processing. Their goal is to boost their AI’s ability to understand text and visuals, enabling more human-like interactions with the world.

Enhanced 3D Creation Tools: The new investment could boost upgrades in their 3D tech suite. Genie is still in the very initial stage but it will improve over time and become an incredibly powerful tool so that it can used to create 3D models for movies, animes and other visual projects. Expect significant advancements in their Imagine 3D text-to-3D tool and the 3D-focused Fields Editor.

Integration with Game Engines: Media outlets are spotlighting Unreal Engine’s partnership with Luma, suggesting a future where Luma’s AI-generated 3D assets efficiently merge with game development workflows.

Beyond 3D Content Creation: The focus on multimodal AI suggests it might soon evolve past 3D content, possibly towards AI that can engage with real-world events or create varied visuals from text descriptions.

Overall, Luma AI seems to be positioned to become a major player in the field of 3D model-generation AI tools. It has the capability to completely change the method of creating 3D objects. It can be used in various fields like construction, content creation, interior designing, engineering, manufacturing, etc.

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