# WOMBO Studios

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/wombo-studios

- Industry: Software
- Headquarters: Toronto, Canada
- Website: www.wombo.ai
- Total disclosed funding: $15M
- Latest round: Series A (Sep 3, 2024)
- Investors on record: 13

## About

Based in Ontario, Canada, and founded in 2020 by CEO Ben Zion Benkhin, Vivek Bhakta, Akshat Jagga, Paul Pavel, Angad Arneja, and Parshant Loungani, WOMBO Studios Inc., a.k.a. WOMBO operates as a technology company that focuses on providing a digital platform that allows users to create their own lip-syncing image by just choosing a song and uploading a photo. In September 2024, WOMBO Studios Inc. raised CAD 12.2 million in a Series A funding led by Round13 Capital, with participation from NVIDIA Corporation, CoreWeave, Inc., SBI Ven Capital, and Web3.com Ventures.

WOMBO offers AI-powered applications designed for creative entertainment. Their flagship products include the WOMBO and WOMBO Dream apps, both of which use AI to enable users to generate creative content like animated videos and artworks. Additionally, WOMBO is working on w.ai, an AI supercomputing platform that leverages idle devices to provide decentralized computing power.

WOMBO Studios generates revenue primarily through in-app purchases and subscription models. Users can opt for weekly, yearly, or lifetime subscriptions, priced between USD 6.99 and USD 229.99, depending on the plan. Additionally, the company offers avatar packs and coins, with individual purchases ranging from USD 2.99 to USD 12.99.

The company plans to use its proceeds from September 2024 funding to expand its team, accelerate product development, and explore new frontiers in AI-powered content creation.

## Funding rounds

- Series A, Sep 3, 2024, $9M — NVIDIA Corporation, SBI Ven Capital, Round13 Capital, CoreWeave, Inc., Web3.com Ventures
- Seed, Jun 24, 2022 — FJ Labs
- Seed, Jun 1, 2021, $6M — Global Founders Capital, Sound Ventures, MPGI, 468 Capital, Buckley Ventures, Sofreh Capital LP, Launch House, Inc.

## Investors

- Global Founders Capital (https://capitalatlas.ai/funds/global-founders-capital) — Seed
- Sound Ventures (https://capitalatlas.ai/funds/sound-ventures) — Seed
- MPGI — Seed
- 468 Capital (https://capitalatlas.ai/funds/468-capital) — Seed
- Buckley Ventures (https://capitalatlas.ai/funds/buckley-ventures) — Seed
- Sofreh Capital LP — Seed
- Launch House, Inc. — Seed
- FJ Labs (https://capitalatlas.ai/funds/fj-labs) — Seed
- NVIDIA Corporation — Series A
- SBI Ven Capital (https://capitalatlas.ai/funds/sbi-ven-capital) — Series A
- Round13 Capital (https://capitalatlas.ai/funds/round13-capital) — Series A
- CoreWeave, Inc. — Series A
- Web3.com Ventures (https://capitalatlas.ai/funds/web3-com-ventures) — Series A