How Leonardo.Ai plans to take on OpenAI and Midjourney in tech's hottest segment
The Sydney-based generative AI outfit wants to make its video and image output as precise as possible. But it faces stiff competition as it looks to take its business to the next level.
When Sydney-based Leonardo.Ai banked $47 million in December from Blackbird Ventures, SideStage Ventures and Samsung Next, it immediately became one of Australia's most talked about startups and best funded AI-first companies.
The raise was a triumph for its six founders, who started the firm just a year earlier. But now the hard part begins.
Leonardo.Ai is a platform for AI image and video generation. Among its many worldwide competitors are Midjourney, which pioneered text-to-image generation and currently has more than twice the amount of users, and Dall-E, a sister product to OpenAI’s ChatGPT.
To get there, as founder and CEO JJ Fiasson told Capital Brief, Leonardo.Ai is working to build a platform for creatives, both amateur or professional. Far from being an app where tinkerers insert text prompts and hope for the best, the goal is to create a platform that makes AI-assisted design as precise as possible via a combination of generation and customisation.
