Colossyan, an AI startup that generates workplace training videos similar to London-based unicorn Synthesia, has raised $22m (£17.4m).
Founded in 2020, Colossyan turns text prompts into training videos hosted by AI avatars. The service can generate multiple videos simultaneously, cutting down the cost of producing traditional videos.
The company has been used to produce videos by – among others – Porsche, Vodafone and Paramount.
“Colossyan is dedicated to democratizing knowledge with affordable, interactive video creation, rapidly responding to consumer feedback,” said CEO Dominik Kovacs.
“Our commitment goes beyond making videos; we enable the creation of interactive learning experiences tailored to our customers’ needs, and we pride ourselves on our speed in adapting and learning.”
The company has grown rapidly alongside the surge in the generative AI market. Colossyan raised £4m last February and has said it experienced 600% year-on-year growth since then. The company also said its team size has grown in the last year from 15 staff to 45.
Synthesia remains the AI training and corporate comms video generation platform to beat, having landed a $1bn valuation last June – but competition in the space is heating up.
The latest investment round for Colossyan was led by Lakestar and featured participation from Launch Hub, Day One Capital and Emerge Education.
“This investment emphasises our confidence in the AI-driven corporate learning market and Colossyan’s robust path to revolutionise this field,” said Lakestar partner Akis Bratsos.
“Colossyan’s exceptional growth and distinctive features position the company as a true frontrunner, reshaping the future of corporate education. We are pleased to embark on this journey with the Colossyan team.”