otoroom, the AI-driven photo editing platform headquartered in Paris, has successfully concluded its latest funding round, securing a substantial $43 million at a valuation of $500 million. CEO Matthieu Rouif, alongside co-founder CTO Eliot Andres, confirmed the closing of the funding, which was first reported to be in progress back in January. Despite initial expectations exceeding $50 million, the final amount slightly dipped.The investment injection arrives amidst a fiercely competitive market landscape, with players like Picsart and Pixelcut vying for market share. Photoroom boasts processing over 5 billion images annually, with its app surpassing 150 million downloads.

Balderton Capital spearheaded the funding round, joined by new investor Aglaé and existing backer Y Combinator, alongside undisclosed additional investors, including notable names like Kima Ventures, FJ Labs, and Meta.With plans to bolster its workforce and further invest in research and development, Photoroom aims to double its current employee count of approximately 50 by year-end. Distinguishing itself by training proprietary AI models and prioritizing technical talent acquisition, Photoroom anticipates enhancing efficiency and operational capabilities. Moreover, the company's unveiling of Photoroom Instant Diffusion, a tool facilitating consistent product photography styling, underscores its commitment to innovation and user-centric solutions.