AI Startup Runway Raises $141 Million, Valued at $1.5 Billion, to Scale Generative Video Software

Runway, a startup building generative AI tools for multimedia content creators, raised $141 million to scale its in-house research and expand its team.
Runway's software allows users to transform or create videos using text prompts or images.
Runway's Gen-2 tool, which focuses on text-to-video capabilities, is now available to the public.
Runway has a diverse user base, ranging from award-winning movie directors to small creators and consumers.
Runway aims to create tools that enhance creativity and sees generative AI as a means of human augmentation rather than replacement.