Today, Inworld AI announced its latest funding round, with major investors including Lightspeed Venture Partners, Microsoft (via its M12 fund), Samsung Next, and LG (through Technology Ventures). Notable participants in this investment round also include Stanford University and Eric Schmidt’s First Spark Ventures. In previous rounds, Inworld AI received investments from companies and funds such as Section 32, Intel Capital, Founders Fund, the Disney Accelerator, BITKRAFT Ventures, The Venture Reality Fund, Kleiner Perkins, CRV, Meta, Micron Ventures, NTT Docomo Ventures, and SK Telecom Venture Capital.
The funding raised in this announcement brings Inworld AI’s total investment to over $100 million, with the company’s valuation now exceeding $500 million. This makes Inworld AI the most well-funded startup focused on AI and gaming, which includes the receipt of an Epic MegaGrant last year.
In addition to its impressive funding, Inworld AI has renowned advisors, including Google’s VP of AI Danny Lange and acclaimed writer Neal Stephenson, who coined the term “Metaverse” in his novel Snow Crash.
In a statement, Ilya Gelfenbeyn, CEO and co-founder of Inworld AI, expressed the importance of immersive experiences in the next generation of games. He highlighted the transformative capabilities of the Inworld Character Engine, which brings lifelike emotions and dialogue to characters, enhancing the richness of storytelling and virtual worlds. Gelfenbeyn emphasized the significance of realistic responses and actions from characters to create truly interactive entertainment.
John Gaeta, Academy Award winner for best visual effects in The Matrix and Chief Creative Officer at Inworld AI, added his perspective on AI-driven characters. He described them as a new form of magic that will revolutionize storytelling and escapism, allowing the audience to become active participants instead of passive viewers. Gaeta believes this interactive media will unlock new avenues of creative expression, with narratives guided by the collective imagination of creators and the audience.
In an exciting move, Inworld AI announced that its character engine will be open source. This decision allows developers and creators to customize the generative AI model, further expanding its potential applications.
Wccftech first featured Inworld AI when modder Bloc integrated its technology into Mount and Blade II: Bannerlord. This was followed by an interview with Bloc about the integration process and the creation of an impressive Skyrim mod using Inworld AI. Most recently, Bloc released a Grand Theft Auto V mod utilizing the technology.
Currently, NetEase Games is leading the way in implementing Inworld AI into actual games through its internal studio Team Miaozi. Miaozi is integrating Inworld AI into its top-down action/shooter/base building/roleplaying game Cygnus Enterprises, which was released on Steam Early Access last year.
The potential impact of generative AI on non-player characters (NPCs) is immense. It is likely that even larger game developers will adopt similar technologies in future titles, greatly extending the longevity and immersion of their games.
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Basant Kasayap is an entertainment aficionado who delves into the glitz and glamour of the entertainment industry. From Hollywood to Bollywood to regional cinema, she offers readers an insider’s perspective on the world of movies, music, and pop culture.
