📝 Recraft raises $30M

Liam Gill
May 07, 2025

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Recraft, the image model startup that quietly beat OpenAI’s DALL·E and Midjourney on a key industry benchmark last year, has raised a $30 million Series B led by Accel, with participation from Khosla Ventures and Madrona. Known for its proprietary model “red_panda,” which gained popularity after excelling at the Artificial Analysis benchmark, Recraft has now crossed $5 million in ARR and 4 million users. The startup’s edge lies in precise, brand-focused image generation—placing it in competition not just with image models like Midjourney and Firefly, but with design tools like Canva. Founded by former Yandex ML lead Anna Veronika Dorogush, Recraft is built around a mission-critical focus: building best-in-class models from scratch.

New pod: Something very strange is happening to the labor market for college graduates. Their unemployment is rising much faster than the overall economy—in a way that's unprecedented in the last 40 yrs.
And it's not just that. MBA graduates are having a harder and harder time
— Derek Thompson (@DKThomp)
1:05 PM • May 6, 2025

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Liam Gill