MMC backs AI video synthesis platform, Synthesia, in $3.1 million round
The UK-based business developing video synthesis technology raised $3.1 million from existing investors LDV Capital and Mark Cuban, alongside new investors MMC Ventures, Seedcamp, Martin Varsavsky’s VAS Ventures, TransferWise co-founder Taavet Hinrikus, Tiny VC, and advertising executive Nigel Morris.
Synthesia's cloud-based platform ENACT enables customers to automatically generate personalised and interactive video content for their audiences at an exponentially faster rate and a fraction of the costs.
"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."
Synthesia recently launched their first global campaign with Malaria survivors speaking through David Beckham to help raise awareness around the Malaria Must Die initiative. The campaign was widely recognised and applauded and has already exceeded 400 million impressions globally and this behind the scenes video explains the process.
Read more on Synthesia's funding round via TechCrunch.