Bengaluru-based Rephrase Technologies, which operates Rephrase.ai, a software-as-a-service (SaaS) platform for customisable video creation, said it has raised $1.5 million in a seed funding round from Lightspeed India Partners and Palo Alto-based venture capital firm AV8 Ventures.
The company will use the fresh capital to strengthen its engineering and research teams, and boost its commercial presence in North America, a statement said.
The startup, which was part of the first batch of TechStars India Accelerator programme in 2019, helps users create personalised videos using facial reenactment technology. The artificial intelligence (AI)-based engine generates synthetic media, automating the process of video making.
Founded in 2018 by IIT alumni Ashray Malhotra, Shivam Mangla and Nisheeth Lahoti, Rephrase.ai looks to deploy its personalised video SaaS platform to aid digital marketing agencies and B2B SaaS enterprises create sales and marketing content. The synthetic media platform helps brands customise their content to address customers individually.
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