VC Fund Investments
Video tech startup Rephrase.ai raises $10.6 M
Bengaluru-based AI startup Rephrase.ai, which operates in the space of synthetic media, has raised USD 10.6 million in a Series A round of funding led by Red Ventures. The round also saw participation from Silver Lake, 8VC, and others. The funds will be used for product development, hiring, and expanding its presence in North America. Founded by Ashray Malhotra, Rephrase.ai aims to democratise video, making high-quality video creation capabilities available to companies of all sizes across all industries. It helps businesses grow engagement by increasing conversion, click-through rates (CTRs), consumption, and content adoption while reducing customer acquisition costs. Rephrase.ai uses deep learning to create digital avatars of actual humans that can be used for synthetic video content with only text as input. The startup has worked with more than 50 global enterprises, including Castrol, Mondelez, and Xiaomi.
In Sep 20, Rephrase.ai had raised USD 1.5 M from Lightspeed Ventures and others
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