Pika Labs Raises $55M and Launches Pika 1.0, an AI-Powered Video Editing Platform

The new platform, which can generate and edit videos in various styles, is now available on the web after previously being exclusive to Discord.

Pika Labs, a startup creating an AI-powered platform to edit and generate videos, has raised $55 million in a funding round led by Lightspeed Venture Partners.
The funding comes six months after Pika emerged from stealth, and coincides with the early access launch of Pika 1.0, a new suite of videography tools that introduces a generative AI model capable of editing videos in a range of styles.
Pika 1.0 includes features that allow for the editing and customizing of objects within a video, and can extend the length of existing videos or transform them into different styles.
Pika's video generation tool has so far only been available through the social messaging app Discord, but with the launch of Pika 1.0, the tool is now available on the web.
Pika Labs has raised a total of $61 million to date, and the company plans to expand its team to about 20 people next year, most of them engineers and researchers.