A UK-based startup which develops AI video technology has raised $3.1 million to continue scaling its business.
London-based Synthesia bills itself as a company which can reduced video production time by altering existing video with artificial intelligence.
The company gained notoriety for its recent work in a video campaign featuring David Beckham for charity Malaria No More.
It adjusted the former footballer’s face to allow him to fluently speak different languages as part of the viral video.
The financing round was led by LDV Capital, early investor and TV personality Mark Cuban, and joined by new investors MMC Ventures, Seedcamp, Martin Varsavsky’s VAS Ventures, TransferWise co-founder Taavet Hinrikus, Tiny VC, and advertising executive Nigel Morris.
“Consumers and employees today expect video-based communication that is tailored to them. For companies it’s difficult to deliver these experiences because the conventional ways of creating video content is a physical process that simply doesn’t scale,” said Victor Riparbelli, co-founder and CEO of Synthesia.
“Our mission is to make it easier to bring creative ideas to life without the traditional barriers of time, budget and skills. We are excited to collaborate with a great and diverse team of investors to execute on our vision.”
Seedcamp Managing Partner, Carlos Espinal added“We are incredibly excited by what the team at Synthesia is building and the smart use of deep technology to truly empower brands and creators to internationalise and personalise their content.
“The creative and ad world is developing so fast and yet has been severely lacking when it comes to trusted, reliable technology that enables people to scale their work at a pace that makes sense. The Synthesia team is uniquely placed to make this a reality through their use of computer vision and artificial intelligence.”