TORONTO, Sept. 5, 2024 /PRNewswire/ -- WOMBO, a global leader and pioneer in consumer AI applications, today announced it has secured $9 million in its latest funding round. The investment was led by Round13 Digital Asset Fund, with participation from NVIDIA, CoreWeave, SBI, Web3.com, and others.

WOMBO has established itself as a powerhouse in the consumer AI space, boasting over 200 million downloads across its suite of applications. The company's creative approach to AI in entertainment has resulted in two apps hitting #1 in over 100 countries, with WOMBO and WOMBO Dream both achieving tremendous viral success. In 2022, Google celebrated WOMBO's achievement by naming Dream the app of the year.

Ben-Zion Benkhin, CEO of WOMBO, emerged from his computer screen to say: "This investment is a testament to WOMBO's vision of making AI-powered creativity accessible to everyone. With the support of industry leaders like CoreWeave and NVIDIA, we're well-positioned to scale our technology globally and continue delivering chart-topping hits that reimagine how people interact with AI in their daily lives."

WOMBO's ambitious outlook on the future of generative AI in entertainment has caught the attention of industry leaders. The company's approach to AI applications has fostered collaborations with key technology providers, including NVIDIA. Cutting-edge solutions like NVIDIA Picasso align with WOMBO's need for reliable and efficient AI at scale.

"WOMBO's track record of creating viral, AI-powered apps is unparalleled in the consumer space," said Khaled Verjee, Managing Partner at Round13 Digital Asset Fund. "Their vision for democratizing AI creativity, particularly with w.ai, aligns perfectly with the future we see for consumer technology. We're thrilled to support WOMBO in this ambitious next phase of growth."

"Generative AI is changing the way entertainment is delivered," said Phil Eisler, Vice President of GPU Delivery Network at NVIDIA. "WOMBO is helping shape and scale cutting-edge experiences to its millions of users worldwide."

The new funding will enable WOMBO to expand its team, accelerate product development, and explore new frontiers in AI-powered content creation.

The company also plans to use the funding to assist in the R&D and creation of w.ai, an ambitious project that aims to create the world's largest AI supercomputer. w.ai is poised to transform idle devices like MacBooks, smartphones, or PlayStation devices into AI workers, allowing users to contribute computing power and earn rewards.

w.ai is partnering with WOMBO to leverage their unique insights into cloud usage and tap into their extensive user base to democratize access to AI computing resources. Through this collaboration, WOMBO users will have the opportunity to participate in the w.ai platform, contributing to and benefiting from a new era of decentralized AI computing.

WOMBO is ready to keep pushing the boundaries of what's possible, what's probable, and what's quirky in the world of AI.

Stay tuned and keep your phones charged. The future of entertainment is about to get interesting.

About WOMBO

WOMBO is what happens when you give a bunch of AI enthusiasts and meme lords too many stimulants and access to the app stores. With over 200 million downloads, multiple chart-topping apps, and a Google "App of the Year" award, they're the leading cause of "What the heck did you do to that photo?" conversations worldwide.

SOURCE WOMBO Studios