A startup specializing in virtual characters for games has raised some real and serious cash.
Inworld AI announced Tuesday it's raised $50 million in a Series A round. Since it was founded a little more than a year ago, the Mountain View company has now garnered some $70 million in venture funding.
Legally known as Theai Inc., Inworld offers a service that helps developers create artificial intelligence-powered characters for video games and virtual and augmented reality applications.
"These virtual worlds are exploding right now," Kylan Gibbs, Inworld's chief product officer, told the Business Journal. "If we're able to capture that market and be the AI engine that underlies it ... it's going to be huge."
Section 32 and Intel Capital led the startup's new round. Other investors included Founders Fund, Accelerator Investments, First Spark Ventures and Kleiner Perkins.
Inworld's technology is a so-called no-code service, making it potentially accessible not just to experienced software programmers, but to writers and other kinds of creators, according to its press release. The service is compatible with popular game engines, including Unreal and Unity, allowing developers to move the characters they've created with it to their games.
"Inworld's AI platform removes the complexities of developing intelligent virtual characters with the potential to unlock a variety of new online experiences," Andy Harrison, managing partner at Section 32, said in the startup's news release.
The company offers various tiers of service, from a free level to one that costs $25 a month. It also offers custom pricing for enterprise clients.
News of the new funding round comes a month after The Walt Disney Co. announced it had selected Inworld to participate in its startup accelerator program, which will conclude with a demo day this fall. Last year, Bay Area Inno named the startup one of Silicon Valley's most intriguing new startups.
