Australian generative AI startup Leonardo.Ai raises $47m

The news: Australian startup Leonardo.Ai, which has 7 million people using its generative AI tools to create everything from architectural designs to gaming characters, has attracted $47 million from investors.

The numbers: Leonardo.Ai says around 4.5 million images are created through its platform each day, and more than 700 million images have been created since its launch late last year. Its users can also custom-build and finetune their own AI models, with over 470,000 models already trained.

The context: Investors in the funding round include Blackbird, Side Stage Ventures, Smash Capital, TIRTA Ventures, Gaorong Capital and Samsung Next. Leonardo.Ai chief executive JJ Fiasson said the raise will help expand company technology.

The company's products include Realtime Canvas and an enterprise offering that has collaborative features and API access.