Genmo, an AI content generation platform, has raised USD 28.4 million in Series A funding led by NEA, with participation from The House Fund, Gold House Ventures, WndrCo, Eastlink Capital Partners, Essence VC and several angel investors.

The funds will be used to further develop the product.

The company also launched Mochi 1, an open-source video generation model. The preview release is available for free on Genmo's hosted playground, and the model weights are accessible on Hugging Face. Mochi 1 is a 10-billion-parameter diffusion model that can generate videos at 30 frames per second for up to 5.4 seconds.

Genmo is an AI-powered platform that enables users to generate videos, images, and 3D models from text prompts or existing images. This platform offers features such as camera motion effects, customizable settings for video length and motion intensity, and the ability to upload images for personalized content creation. 

Analyst QuickTake: This move follows recent launches by companies like Runway, Meta, Adobe, and Stability AI, which have introduced proprietary models that emphasize unique features and user accessibility. By opting for an open-source approach, Genmo not only democratizes access to advanced video generation capabilities but also invites collaboration and innovation from the broader developer community. This shift toward open-source models could reshape industry dynamics, as it encourages advancements and diversifies offerings.