Today Oxolo, a company that has developed a generative AI video platform announced it has raised a €13 million Series A
funding round led by DN Capital.
Founded in 2020, Oxolo is building a platform for generative AI-based media.
Its text-to-video software allows anyone to create automated videos, such as product videos, advertisements, and social media content, complete with AI-powered chatbot avatars.
Using customisable templates, users can make hundreds and thousands of product videos in minutes to drive sales, search, and viewer engagement. In the future, videos will be optimised in response to user behaviour.
According to the company, websites with videos are 53 times more likely to secure a coveted spot on the front page of Google’s search results. Additionally, they assert that including videos results in an 80 percent boost in conversion rates for e-commerce product pages.
Led by DN Capital, funding participants also include various German Angel investors, including Christian Vollmann, Johannes Plehn, Thomas Hagemann, Stefan Wiskemann, Alex Täubert, and Mischa Ruerup.
The company plans to use the funding for further R&D, team expansion, and further development of its commercialisation efforts.
Lead image via Oxolo. Photo: Uncredited.
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