Inworld AI, the video game developer known for its Character Engine powered by artificial intelligence (AI), has just closed its latest round of funding, securing over $50 million. This brings the company’s total valuation to an impressive $500 million. In a blog post, Inworld AI co-founder Ilya Gelfenbeyn expressed excitement about the financial runway this funding will provide, allowing the company to support the developer community and remain at the forefront of the ever-evolving landscape of AI.
Leading the Way in AI and Gaming
Investors in this round included Lightspeed Venture Partners, Stanford University, Samsung Next, Microsoft’s M12 fund, Eric Schmidt’s First Spark Ventures, and LG Technology Ventures. With this backing, Inworld AI proudly claims to be the “best funded startup in AI x Gaming.”
Revolutionizing the Gaming Experience
The core focus of Inworld AI is its Character Engine, a technology that utilizes AI to create more interactive non-player characters (NPCs) in video games. In fact, Inworld AI’s technology has already been used to enhance popular games such as Skyrim, Stardew Valley, and Grand Theft Auto V through in-game mods.
Dedicated to Research and Innovation
The funding raised will be used to further research and development efforts, expand the team through new hires, and enhance infrastructure. This brings Inworld AI’s total funding to $100 million.
A Growing Trend in AI Investment
Inworld AI is not the only AI developer benefiting from a surge in funding. Other notable examples include Nvidia and Microsoft-backed Inflection AI, which raised a staggering $1.3 billion in June. Runway AI also secured $141 million during the same month. The increase in funding for AI developers reflects the growing recognition and potential of AI technology.
A Promising Future of Collaboration and Innovation
Looking ahead, Inworld AI has plans to open-source portions of its platform to encourage collaboration and innovation within the gaming industry. By working with the open source community, Inworld AI aims to push forward advancements in generative AI that will elevate the gaming experience for all players.
As Inworld AI continues to make strides in the world of AI and gaming, it is clear that the intersection of these two industries holds immense promise for the future.