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Nvidia-supported Series C leads Synthesia, AI firm, to $1 billion valuation.

AI firm Synthesia hits $1 billion valuation in Nvidia-backed Series C

AI firm Synthesia hits $1 billion valuation in Nvidia-backed Series C

UK-based Synthesia, a digital media platform that uses artificial intelligence (AI) to create human-like avatars for videos, has raised $90m in a funding round. Nvidia, the US chip giant, was among the investors in the series C round, which was led by venture capitalist Accel and attracted backing from other investors including Kleiner Perkins and GV. Synthesia’s software enables the creation of avatars to use for training videos, corporate presentations and other tasks, thereby eliminating the need for actors, cameras and lengthy edits. The company, whose clients include Tiffany’s and Moody’s Analytics, plans to use the funds to develop more advanced avatars.

FAQs

What is Synthesia?
Synthesia is a digital media platform that uses AI to create human-like avatars for use in videos for training, corporate presentations and other tasks. It eliminates the need for actors, cameras and lengthy edits.

Who invested in Synthesia?
Nvidia was among the investors in Synthesia’s Series C funding round, which raised $90m. Other investors included Kleiner Perkins, GV, Accel, FirstMark Capital and MMC.

What does Synthesia plan to do with the funds raised?
Synthesia plans to develop more advanced avatars, which will be able to undertake more tasks.

What kind of companies use Synthesia’s software?
Synthesia’s clients include Tiffany’s and Moody’s Analytics. It sells to enterprise clients.

How does Synthesia ensure ethical use of its technology?
Synthesia requires consent from those whose likeness is used in its avatars and uses a mix of human and machine learning to target material such as hate speech and profanity. It is also signed up to Responsible Practices for Synthetic Media, a voluntary industrywide framework for ethical and responsible development, creation and sharing of synthetic media.

AI firm Synthesia hits  billion valuation in Nvidia-backed Series C
AI firm Synthesia hits $1 billion valuation in Nvidia-backed Series C

Synthesia, an AI company backed by Nvidia, achieves $1 billion valuation in Series C round.

Digital media platform Synthesia has raised $90m in funding from investors including chipmaker Nvidia. The London-based company has created software that enables users to generate their own digital avatars that can give presentations and perform other tasks in more than 120 languages. Synthesia’s technology uses AI-generated, animated avatars to eliminate the need for cameras, actors, microphones and editing. The company plans to use the funding to further develop its AI research and make avatars more expressive. Synthesia counts Tiffany’s, International Hotels Group and Moody’s Analytics among its enterprise clients.

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