On September 15, AI communication startup Rephrase.ai raised $10.6 million as a part of Collection A funding. Supported by Lightspeed ventures, the startup goals to enhance communication via artificial media.
In keeping with a assertion, the funding spherical was led by Purple Ventures, broadly identified for its investments in manufacturers and companies targeted on providing premium content material and personalised digital experiences. The spherical additionally witnessed participation from traders like 8VC amongst a number of others, together with Silver Lake, one of many main know-how traders with stakes in Purple Ventures.
Join your weekly dose of what is up in rising know-how.
The funding is anticipated to assist Rephrase.ai enhance its capabilities by combining product experiences and scaling recruiting throughout the organisation—together with inside the engineering, AI, product, gross sales, and advertising and marketing groups.
Ashray Malhotra, CEO and co-founder, Rephrase.ai, stated, “We began Rephrase.ai 4 years in the past with the purpose of constructing an engine that may make creating skilled high quality movies as simple as writing textual content. Within the final 12 months, we’ve developed a whole lot of digital human clones, creating thousands and thousands of movies in the course of the course of. I’m thrilled to welcome Purple Ventures, Silver Lake, and 8VC as companions on this journey to assist expedite the world’s adoption of generative AI movies.”
Rephrase.ai was based in 2019 by IIT alumni Ashray Malhotra, Nisheeth Lahoti, and Shivam Mangla. The enterprise makes use of textual content inputs mixed with deep studying to supply digital representations of actual individuals which might then be utilised to make artificial video content material. It has created a number of Chief Expertise Officers (CXOs) and superstar digital avatars over the previous 12 months. These avatars have cutting-edge facial mapping, voice, lip synchronisation, and expression capabilities.
