Funding round
Luma AI Series A
Luma AI, which works in AI video generation platform development in Palo Alto, raised $20M in a Series A round announced on 1 Mar 2023, led by Amplify Partners. 5 firms took part. It is Luma AI's second venture round on record; the one before was a Seed in Oct 2021.
$20M
Amount raised
Not disclosed
Post-money valuation
5
Investors
1 lead
Valuation
What this round says about the price
Luma AI did not disclose a valuation in this round. It came 17 months after Luma AI's Seed. It is 2.1% of the $967M Luma AI has raised in the venture rounds on record. Luma AI raised again 10 months later: a Series B round of $43M in Jan 2024, at $200M post-money.
Luma AI's funding rounds
Luma AI has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Amplify Partners led the round with 4 other firms.
Lead investor
- Amplify Partners new investor
Also in the round
- General Catalyst backs 574 venture-backed companies new investor
- NVIDIA Ventures new investor
- Matrix Partners new investor
- backs 60 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, scaling operations and working capital.
- Hiring
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
1,576 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $12M, and this round was 1.7 times the median. The closest in time, other companies' Series A rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 23 Mar 2023 | $150M | $1.00B | Andreessen Horowitz |
| Tech Companies | 7 Mar 2023 | $90M | not disclosed | Crossbeam Venture Partners and General Global Capital |
| Rain Tech Companies | 1 Mar 2023 | $66M | not disclosed | QED Investors |
| Tech Companies | 1 Mar 2023 | $65M | not disclosed | Lightspeed Venture Partners |
| Tech Companies | 31 Mar 2023 | $60M | not disclosed | not named |
| Tech Companies | 7 Mar 2023 | $55M | not disclosed | Lightspeed Venture Partners |
| Tech Companies | 1 Mar 2023 | $48M | not disclosed | SoftBank Latin America Fund |
| Tech Companies | 14 Mar 2023 | $45M | $100M | ClearSky |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Luma AI raise in its Series A round?
Luma AI raised $20M in its Series A round, announced in Mar 2023.
Who led Luma AI's Series A round?
Amplify Partners led it, with General Catalyst, NVIDIA Ventures, Matrix Partners and South Park Commons.
What was Luma AI's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Tech Companies?
1,576 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $12M, and this round was 1.7 times the median.
Did Luma AI raise again after this round?
Yes: a Series B round in Jan 2024 of $43M at $200M post-money.