Nvidia-Backed AI Startup Synthesia Achieves Unicorn Status With $90 Million Fundraising Success
In Brief
Synthesia secures $90 million in Series C funding, led by Accel and NVentures, achieving unicorn status.
Synthesia empowers businesses with its AI technology, enabling the creation of customizable AI avatars to democratize video creation.
The startup’s future plans involve advancing avatar technology for enhanced expressiveness and capabilities. Specific details will be unveiled by the end of the year.
Synthesia, a UK-based AI startup, has raised $90 million in a Series C funding round led by venture capital firms Accel and Nvidia-owned NVentures, propelling its valuation to $1 billion. The company also received support from Kleiner Perkins, GV, FirstMark Capital, and MMC.
Synthesia’s collaboration with tech giant Nvidia adds further weight to its mission of reshaping visual content creation. The company’s technology empowers over 50,000 businesses, including industry titan Amazon.com, by enabling the creation of custom AI avatars for various applications. Synthesia uses AI algorithms to generate realistic avatars that can speak any language and replace text and images with personalized and localized videos, deliver presentations, and more. The avatars are created from real-life actors speaking in front of a green screen.
Equipment or video editing skills aren’t required when using the platform. According to its homepage, Synthesia is the #1 rated AI video creation platform.
Synthesia’s shared vision is to democratize video creation by replacing cameras with code, thus eliminating the need for cameras, microphones, actors, complex editing procedures, and the associated costs required for professional video production. The company plans to invest in its technology and advance its AI research to make Synthesia avatars more expressive and capable of performing more tasks. While specific details are currently kept confidential, Synthesia plans to unveil its advancements by the end of the year.
Synthesia seeks to improve its platform’s speed, power, real-time collaboration, enhanced sharing, simplified invitations, audit logs, mobile formats, dual avatars on screen, and enhanced video editing functionality. The video editing experience has already seen significant upgrades, including markers, an AI-driven interface for smoother animation, GPT-powered script writing, and other innovative additions.
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About The Author
Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on agnec@mpost.io.
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Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on agnec@mpost.io.
