An Artificial Intelligence startup named Rephrase.ai has raised 10.6 Million Dollar funding through a round led by red ventures with the participation from Silver Lake, 8VC and many others.
This same startup has previously raised 1.5 Million Dollar through seed funding round from Lightspeed and AV8 Ventures.
As per the company, this raised money and funding will be used for enhancing the ventures capabilities while integrating products experiences, hiring more talented team members, more advanced AI products, companies sales, marketing strategies and the main focus will be on expanding themselves more in North America.
This startup was founded in 2019, by Ashray Malhotra, Nisheeth Lahoti and Shivam Mnagla.
This startup Rephrase.ai aimes to democratise videos, enhanced quality of video creation capabilities that are available in enterprises of different sizes all over in India.
The startup commits that they will utilise deep learning for creating Digital Avatars of actual humans which will be used for artificial video contents with text as input.
“Looking at how people provide information today is a markable solution to provide personalised videos that are more in demand today.
With the latest huge customisation of video content, our biggest bet is to enhance and evolve the process of video production.
And that business process technology will be incredible.” said the President of Red Ventures (Carlos Angrisano)
“ Here I believe the potential of this huge opportunity is to provide an easier API for all our customers and to create videos without much labour and also it will help you to manage your time.
The vision has the potential to be an inflection icon in the video generation process,” said by Venkatesh Seetharam, The Advisor of 8VC.