Inworld AI Secures $30 Million, Pushing Valuation To $500 Million

While startup funding is tight in many industries, artificial intelligence (AI) is an exception. 

Inworld AI recently secured $30 million from Lightspeed Venture Partners, pushing its valuation to $500 million. 

In addition to Lightspeed, the round also includes investments from Stanford University, Samsung Next, Microsoft Corp.'s M12 fund, First Spark Ventures and LG Technology Ventures. 

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More On Inworld's Funding Round

In an interview with GamesBeat, Inworld AI Co-Founder and Chief Product Officer Kylan Gibbs announced that the startup has amassed over $100 million in total capital, making it the most financially backed venture at the AI and gaming crossroads. 

The recently raised capital is earmarked for various strategic goals. Inworld AI plans to channel the funds into bolstering its R&D initiatives, recruiting top-notch industry talent, improving its technical infrastructure and launching a public version of its proprietary character engine.

"Inworld's commitment to open source is a testament to our belief that collaboration fuels innovation," Michael Ermolenko, chief technology officer and co-founder of Inworld, said in a statement. "Working with the open source developer community, we'll push forward innovations in generative AI that elevate the entire gaming industry."

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Inworld's Impact On Gaming

Inworld harnesses multiple machine learning models in concert to drive multifaceted character expressions that echo the depth and breadth of human communication. This platform empowers developers to integrate Inworld's AI-driven characters into their animation and rigging systems, even within 3D scenarios.

These intelligent non-player characters (NPCs) exhibit capabilities of learning and adapting, skillfully managing relationships with emotional insight, possessing recall and memory and independently defining and pursuing objectives. They are also competent in carrying out actions based on their inherent motivations. This capacity can further fuel the narrative and seamlessly blend into the wider player engagement.

"The next generation of games will be judged by how immersive the experiences feel," said Ilya Gelfenbeyn, CEO and co-founder of Inworld. "The Inworld Character Engine offers a transformational shift that brings characters to life with realistic emotions and dialogue, adding richness to the stories and worlds they occupy. Populating experiences with characters that behave with convincing real-time responses and actions will play a substantial role in getting us to the promise of truly interactive entertainment. "

In the world of game development, Inworld AI is a top player. With this additional funding, expect some major developments in the months to come. 

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