On Thursday, Rephrase.ai (1), a deep-tech startup based in Bengaluru, stated that it had raised 1.5 million USD in a seed funding round. The Lightspeed Ventures and AV8 Ventures led the latest fundraise. The AI-led synthetic media production firm will utilize the latest funding to enhance its R & D team based on Bengaluru and its market reach in North America.
Ashray Malhotra, CEO of Rephrase.ai, stated on the latest investments that enterprises can now make high-quality video content for their marketing and targeted sales while saving money and time. The company’s technology will reform our thinking about video products, both today and in the future, regarding business communication and filmmaking.
Three IIT graduates, Ashray Malhotra, Nisheeth Lahoti, and Shivam Mangla, founded Rephrase.ai in 2018. As per the claims of the SaaS startup, it offers a technology that makes personalized video creations as simple as writing an email. It can also generate millions of such videos without any production cost or manual efforts in a studio.
Rephrase.ai Observing High Demand for Personalized Videos
The core principle of the AI-based video platform is its facial-reenactment technology. It predicts facial expressions, movements of lips, and head. The startup is observing high demand for personalized videos from digital marketing agencies and B2B SaaS players. They seek the content for sales and marketing creations in several industries including, ecommerce, automotive, financial service, entertainment, etc. Brands can address individual customers via video content.
Hemant Mohapatra, Partner at Lightspeed India, stated on the Rephrase.ai latest infusions that the venture is already backing firms that run video-based marketing campaigns. These companies are observing click-through rates 4x times more compared to other personalized emails. However, these videos are individually recorded. Hence, they very expensive and unscalable.
Rephrase.ai allows businesses to create millions of personalized videos via real models with only text input. The startup aims to unlock creativity by making it feasible for everyone to create high-quality videos at reduced cost and quickly.
Author: Rucha Joshi
Source : https://timesnext.com/rephrase-ai-secures-1-5-million-usd-in-seed-funding/
Date : 2020-09-25T06:06:19.000Z