Synthesia, a London-based AI video creation startup, has raised $180 million in its latest funding round, which values the company at $2.1 billion. The round was led by NEA, with participation from Accel, GV (formerly Google Ventures), and Nvidia.
Synthesia is best known for its AI-powered platform that enables businesses to create videos featuring highly realistic avatars that can speak in multiple languages based on simple text inputs. The company caters to enterprises looking for scalable video solutions for training, corporate communication, and marketing purposes.
The startup, co-founded in 2017 by Victor Riparbelli, Steffen Tjerrild, Lourdes Agapito, and Matthias Niessner, plans to invest the new capital in further improving its AI models. Specifically, Synthesia aims to make its avatars even more lifelike, natural, and photorealistic.
Despite the widespread adoption of its technology, Synthesia faces challenges surrounding ethical concerns, particularly with deepfakes and potential misuse of AI-generated content. The company has implemented safeguards and usage policies to address these concerns while maintaining its focus on legitimate enterprise use cases.
Synthesia’s recent growth underscores the expanding demand for AI-driven video solutions, with a clientele including major global brands. The funding will also help the company continue its international expansion and invest in research and development to maintain its competitive edge.