London-based AI startup Immersive Fox has secured a £2.8m funding round to advance its video-generating technology.
Similar to Synthesia, which was recently propelled to unicorn status after a £71.4m fundraise, Immersive Fox can turn user-inputted prompts into video presentations.
The startup’s technology is primarily designed for enterprise purposes. The platform can generate digital twins of users, requiring two four-minute videos as a reference.
The cloned voice can be translated into more than 50 languages. It means users can create corporate communications and sales videos without actors or cameras.
“This significant investment is a testament to the hard work and dedication of our team, who work together diligently to bring a wealth of experience and professionalism to the table,” said Alisa Patotskaya, founder and CEO of Immersive Fox.
“Both my team and investors are all excited to see how this innovation shapes the industry.”
The seed investment round featured participation from Redseed VC, Monte Carlo Capital and Altair.
“Artificial intelligence came to the foreground of the investor community during 2022. With the rise of generative AI and LLMs, the tremendous disruptive potential of this technology became apparent to the broader population,” said Eugene Belov, managing partner at Redseed VC.
“However, the true value of any new technology lies in the extent to which it solves and simplifies existing problems and challenges.”