- Synthesia, a London-based digital media company, recently secured $90 million in funding from key investors including Nvidia.
- The firm develops software for creating AI-generated avatars for video production, aiming to eliminate the need for cameras, actors, and other costly aspects of traditional video production.
- With plans for investing further in AI research, Synthesia aims to improve its technology and enable avatars to perform more tasks.
The renowned digital media firm, Synthesia, which enables users to construct AI-generated video content, recently gained a whopping $90 million in investment funding. This substantial financial boost, from leading investors such as the U.S. tech powerhouse Nvidia, was exclusively revealed to CNBC.
Based in London, Synthesia secured this funding in a round led by Accel, a previous backer of Facebook, Slack, and Spotify. Nvidia's strategic investment contributed an undisclosed sum, and additional investors included Kleiner Perkins, GV, FirstMark Capital, and MMC.
Launched by visionaries Victor Riparbelli, Matthias Niessner, Steffen Tjerrild, and Lourdes Agapito in 2017, Synthesia's innovative software provides the tools to generate personalized digital avatars. These avatars, capable of delivering everything from business presentations to training videos in over 120 languages, aim to eradicate the need for physical actors and costly recording equipment.
The company's primary objective is to streamline professional video production by replacing traditional elements with animated AI-based avatars. These avatars, mimicking human appearance and speech, are constructed from recordings of real-life actors in front of a green screen. As a result, the cost of video production becomes comparable to creating a simple PowerPoint, leading to increased efficiency.
Synthesia, a generative AI firm akin to OpenAI’s ChatGPT, has consistently focused on developing its proprietary AI. Although ChatGPT recently gained public attention, Synthesia has been working on this technology for several years. They cater to an impressive list of enterprise clients and continue to maintain their commitment to AI advancement, planning to enrich their avatar capabilities and broaden their service offerings.
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