AI Photo Editing App Photoroom Raises $43M, Valued at $500M to Fuel Growth and New Product Innovations
• Photoroom raised $43M at a $500M valuation in its latest funding round led by Balderton Capital • The Paris-based AI photo editing app has over 150M downloads and processes 5B images per year • Photoroom plans to double its 50-person headcount by end of 2023 and invest further in R&D and infrastructure • The company is launching a new tool called Photoroom Instant Diffusion to create consistently styled product images • Investors are impressed by Photoroom's user-centric vision and generative AI capabilities in the evolving landscape