Neural rendering uses deep neural networks to create new images and video from existing scenes. The camera angles, lighting, and other details can be rendered into a realistic model of a 3D scene. In addition, neural rendering of existing images and videos can be used to generate synthetic data. Why it matters: Traditional 3D graphic rendering needs a model with a polygon mesh describing shape, color, and textures, as well as the lighting and camera position. Neural rendering simulates camera physics to separate the 3D scene from the camera capture process, making it easier to create new images from existing images and videos with consistency.

Applied Artificial Intelligence (AI) research company Runway announced a $50M Series C funding round led by Felicis. Existing investors Amplify Partners, Coatue, Compound, and Lux Capital participated, along with new investor Madrona. The funding allows the company to enter the next phase of growth and advance their position in generative AI, with research on multimodal AI systems for content creation. With customers like CBS, New Balance, Harbor Picture Company, and Publicis as customers, Runway continues to be on the leading edge of generative AI. "As content needs continue to skyrocket, creators will become overwhelmed by the volume of rote tasks their jobs require. Runway is pushing the boundaries of creativity and enabling creators to meet these demands and enhance their craft, while saving enterprises and creatives significant amounts of time and money with recent advancements in AI." Runway CEO and Co-founder Cristóbal Valenzuela said in a company release.

Owl Labs, a startup developing a linuep AI-powered meeting hardware, today announced that it raised $25 million in a Series C round led by HP Tech Ventures (HP's venture capital arm) with participation from Sourcenext, Matrix Partners, Spark Capital and Playground Global. The closing of the tranche marks the start of a strategic partnership with HP, Owl Labs CEO Frank Weishaupt says, which will see HP invest in Owl Labs' various product offerings while providing sales coverage and outreach with enterprise customers. HP, notably, recently acquired Poly, which developed a range of video and voice devices and software for virtual conferencing. Weishaupt sees no conflict, arguing that Poly's products are complementary with Owl Labs' and show "HP's commitment to transforming the workplace to a hybrid model." "The funding will allow Owl Labs to continue its accelerated growth … Owl Labs will use the investment to support product development and increase global adoption of the company's products, including the [Owl Labs'] product line," Weishaupt told TechCrunch in an email interview.