AI video avatar platform Synthesia raises $50 million in venture capital

FILE PHOTO: An illustration of a video avatar created by Synthesia, an AI video platform that generates “digital people”, is seen in the undated handout photo released to Reuters on December 7, 2021. Synthesia / Handout via REUTERS

December 8, 2021

By Jane Lanhee Lee

(Reuters) – Synthesia, a London-based artificial intelligence startup that specializes in creating video avatars of real people, said on Wednesday it has raised $50 million from its first company. venture capitalists Kleiner Perkins and GV, formerly Google Ventures, and other investors.

More and more startups are creating such synthetic vehicles, and as they become more lifelike, funding is following.

To announce the grant, Synthesia created a video on its technology integration platform.

Synthesia said in a statement it will use the funding to advance the company’s growth and improve technology.

While there are concerns that such technology could be used to create profound fakes, Victor Riparbelli, co-founder and CEO of Synthesia, said its profile picture is mainly used for corporate videos. EY accounting and consulting firm partners use their profile picture for client communication and internal training. Riparbelli said Synthesia only creates avatars of those who have given consent, he said.

Riparbelli declined to disclose the company’s revenue or valuation, but said Synthesia is growing “exponentially”.

“In 10, 15 years, the vision here is that you can make a Hollywood movie on your laptop without anything else but your imagination,” Riparbelli told Reuters.

(Reporting by Jane Lanhee Lee; Editing by Cynthia Osterman)