$23 million for AI generation platform Fal.ai

Fal.ai, a platform for AI-generated multimedia content, has raised $23 million from investors. The company provides computing power and APIs for AI models to create images, audio and video. As Kyle Wiggers reports for TechCrunch, $14 million came from a Series A financing led by Kindred Ventures. Another $9 million came from a previously undisclosed seed round led by Andreessen Horowitz. According to co-founder Burkay Gur, Fal.ai already has 500,000 developers on the platform and generates 50 million pieces of media content every day. Its customers include AI apps like Photoroom and PlayHT.