# AlpacaML

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/alpacaml

- Industry: Semiconductors
- Headquarters: Wilmington, US
- Website: www.alpacaml.com/
- Latest round: Series C (Jan 1, 2024)
- Investors on record: 1

## About

Founded in 2022, AlpacaML, Inc. is focused on developing an AI-powered platform that assists artists in their creative process. In January 2024, AlpacaML, Inc. raised Series C funding led by Index Ventures.

Alpaca's primary offering is an AI-powered digital canvas designed for artists and creatives, facilitating rapid iteration from initial concept sketches to final artwork. The platform employs advanced AI algorithms to stylize and render early sketches, allowing users to upload style reference images that influence the aesthetic of their work. Key functionalities include transforming line art into detailed renderings, providing pixel-level color control, and enabling non-destructive workflows through layers and a Generation Mask tool. This product serves a diverse client base, including professional digital artists, graphic designers, and creatives seeking to streamline their artistic processes.

Alpaca generates revenue through a subscription-based model, offering multiple pricing tiers to cater to different user needs. The Free plan allows users to access essential features, including 100 generations per day and limited style references. The Standard plan provides unlimited generations and enhanced privacy for USD 15 per month, while the Pro plan includes greater customization options and multiple style references for USD 35 per month. Additionally, Alpaca offers a Team plan tailored for studios, featuring custom AI models and centralized admin support, with pricing available upon request. This tiered structure allows for a range of transactions, primarily focusing on direct-to-consumer subscriptions from individual artists and studios leveraging the platform's tools for creative output.

AlpacaML, Inc. plans to expand its product line by introducing new features aimed at enhancing user experience, with specific new product launches expected in the coming year. The company is also targeting expansion into emerging markets, particularly in Asia and Europe, by the end of 2024. The recent Seed funding of USD 4.2 mn will be utilized to support product development and market expansion initiatives.

## Funding rounds

- Series C, Jan 1, 2024 — Index Ventures
- Seed, date not disclosed — Index Ventures

## Investors

- Index Ventures (https://capitalatlas.ai/funds/index-ventures) — Seed, Series C