CARAT, a creator-based AI photography platform, has secured 2 billion won in Series A funding from Hana Ventures. This investment marks a significant milestone for Paradot, the company behind CARAT, following their seed funding in 2021.
CARAT has rapidly become Korea’s largest AI photo-creating service, offering free features like AI profiles, pop-up stores, and picture boards. The platform’s user-friendly interface and template-based system have contributed to its success. In just six months since launching its AI profile service, CARAT has achieved impressive growth:
- Over 6 million monthly photo-creating requests
- 2 million cumulative subscribers
- Four times more monthly photo requests than competitor Snow
CARAT’s success is noteworthy in the AI photo service landscape, where many global competitors have struggled to maintain momentum. The platform’s sustained growth in active users and sales over six months demonstrates its potential for long-term success.
This funding will enable Paradot to expand CARAT’s ecosystem, making it easier for users to create, share, and sell AI photo filters. The company aims to solidify its position as a leading B2C photo-generating AI platform. With a team of experienced professionals from companies like Kakao and Naver, Paradot is well-positioned to capitalize on the growing trend of AI-generated content in social media and entertainment.
