“I think this is a huge unlock to a lot of really cool use cases that are going to emerge from this, and it’s democratizing production grade video for corporations,” Coyne says. Josh Coyne, a partner at Kleiner Perkins who led the Series B round, says that the demand for video continues to explode and while it’s never been easier to create a compelling TikTok video, that hasn’t been true for the professional quality production arena that a lot of enterprise videos fit in. It had previously raised $1 million pre-seed, $3.1 million seed round, and $12.5 million Series A in April of this year, so with the latest funding round, the total amount invested has grown to $67 million. Synthesia is a cloud-powered AI video generation platform that allows users from all over the world to create stylish video presentations with AI actors in over 65 languages and accents in mere minutes, without the need for expensive production teams, actors, equipment, and studio space. The London-based company currently counts 65 employees in several offices. Instead of filming content with a camera, that platform uses AI to simulate real video, eliminating the need for cameras, studios, and film crews. Its main competitor is London-based Synthesia, one of the sector’s best funded generative AI startups, which raised 50m in December 2021. Synthesias selling point is the ability to enable you to create video content without showing your face. After signing up to their website, Cuban put in one million, the pre-seed investment they needed to get going. Synthesia.io is a tool that can generate video content by leveraging the power of artificial intelligence. Eventually they approached professors Matthias Niessner and Lourdes Agapito, and started the company in March 2017.Īfter a number of rejections, Tjerrild found and cold emailed Mark Cuban, and they we had a 14 hour back and forth conversation via email. Riparbelli later moved to London to work in consulting and Tjerrild did investment banking in Zambia, but the two eventually reunited at a wedding in India. Originally from Denmark, Riparbelli met his cofounder Steffen Tjerrild (CFO & COO) while both worked at a startup studio in Copenhagen called Founders. OpenAI received a 10B investment from Microsoft in January 2023 Runway ML, an AI-powered video editing platform, raised a 50M Series C at a 500M valuation in December 2022 ImagenAI, an AI.
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