Red Ventures leads $10.6 million round for AI startup rephrase.ai

Rephrase.ai, an artificial intelligence startup based in India has raised $10.6 million in its new funding round led by Red Ventures, with participation from 8VC and other investors.

• The fund will be used to enhance the capabilities of the startup by integrating product experiences; scaling hiring across the business, engineering, AI, product, sales, and marketing teams; and expanding its presence in North America, the AI startup claims.
• Rephrase.ai focuses on democratizing videos, making high-quality video creation capabilities for varying-sized companies across industries. It creates videos with texts as inputs using artificial intelligence and also provides generative AI, facial mapping, audio cloning, and video creation for personal campaigns. It also creates digital avatars of humans via deep learning for synthetic video content with text-only input.
• The startup evolved from an engine to create professional quality videos to developing digital human clones through which it has now created millions of videos, says Ashray Malhotra, CEO and co-founder of Rephrase.ai.
• It increased its employees from 12 to 35 in the last year, cropping its talent team from top companies like Amazon, Google, Facebook, and Samsung.