🏆 Deal of the Week · CW 49/2025
Black Forest Labs raised USD 300 million in a Series B round in December 2025, at a valuation of EUR 3.25 billion. The round was co-led by Salesforce Ventures and Anjney Midha (AMP).
Black Forest Labs — key deal facts
| Company | Black Forest Labs |
| Founded | 2024 |
| Headquarters | Freiburg, Germany |
| Amount raised | USD 300m |
| Valuation | EUR 3.25b |
| Round | Series B |
| Investors | The round was co-led by Salesforce Ventures and Anjney Midha (AMP), and saw participation from a16z, NVIDIA, Northzone, Creandum, Earlybird VC, BroadLight Capital, General Catalyst, Temasek, Bain Capital Ventures, Air Street Capital, Visionaries Club, Canva, and Figma Ventures. |
Who invested in Black Forest Labs?
The round drew participation from a16z, NVIDIA, Northzone, Creandum, Earlybird VC, BroadLight Capital, General Catalyst, Temasek, Bain Capital Ventures, Air Street Capital, Visionaries Club, Canva, and Figma Ventures. The investor mix is notable for spanning traditional venture capital, strategic corporate backers from the design and enterprise software space, and sovereign-linked capital, reflecting broad conviction in the commercial potential of frontier image-generation technology.
What does Black Forest Labs do?
Black Forest Labs is a frontier AI research lab specializing in visual intelligence. Its core product line is the FLUX family of generative models — including FLUX.1 and FLUX.2 — which support text-to-image generation and image editing for creators, developers, and enterprises. The company was founded in 2024 by Robin Rombach (CEO), Andreas Blattmann, and Patrick Esser, all former researchers at Stability AI, and is headquartered in Freiburg, Germany.
Black Forest Labs valuation & multiples
Explore the benchmarks: Series B.
Frequently asked questions
How much did Black Forest Labs raise in its Series B?
Black Forest Labs raised USD 300 million in its Series B round, closed in December 2025.
What is Black Forest Labs's valuation?
Black Forest Labs was valued at EUR 3.25 billion at the time of its Series B.
Who invested in Black Forest Labs?
The round was co-led by Salesforce Ventures and Anjney Midha (AMP), with participation from a16z, NVIDIA, Northzone, Creandum, Earlybird VC, BroadLight Capital, General Catalyst, Temasek, Bain Capital Ventures, Air Street Capital, Visionaries Club, Canva, and Figma Ventures.
When was Black Forest Labs founded and where is it based?
Black Forest Labs was founded in 2024 and is headquartered in Freiburg, Germany.
Source: original announcement — read the full report.