Generative AI text-to-video company raises $5 million in Series A funding

Text-to-video is a corporate video-making tool that is soaring in popularity, making it possible for anyone to make videos that suit a range of use cases using diverse avatars. Today Colossyan raises $5 million in Series A funding.
Generative AI text-to-video company raises $5 million in Series A funding

Today text-video transition company Colossyan announces $5 million in Series A funding. 

The London company brings text-to-video to education, turning text into dialogue for speaking avatars used in the Learning & Development (L&D) space, making it simple for companies to make videos for corporate communication, onboarding, sales enablement, and compliance. 

A perfect storm of remote tasking spurred by the COVID-19 pandemic, short attention spans, and generational preference for video learning has seen a boom in new learning modes. 

Using Colossyan’s tools, clients can create an avatar from various demographics who lip-syncs dialogue in various accents. Using Generative AI, Colossyan cuts video production and localization time from 2-3 weeks to under 30 minutes, saving thousands of dollars per video for educators and corporate L&D teams. 

Its 400-plus customers include Proctor & Gamble, BMW, BASF and Hewlett-Packard. 

Initially called "Defudger," Colossyan was originally created in 2018 to detect AI-generated content. However, during the development process, the team recognized that their technology had the potential to enhance the quality of AI-generated content directly.

The company pivoted to content creation full-time after positive feedback upon early prototypes. 

Potential customers can try Colossyan's full range of features for free, with no credit card required.

Colossyan team members: Kristof Szabo, and Zoltan Kovacs with Founder and CEO, Dominik Mate Kovacs.

The funding round was led by CEE’s LAUNCHub Ventures, and L&D specialists Emerge Education. The company plans to use the funds to grow its engineering and AI research teams. It also plans on expanding its commercial functions in London and New York, with key hires in sales, marketing, and adding to the industry-leading customer success team.

Lead image: Colossyan. Photo:Uncredited.

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