British Start-Up Synthesia Hits $2.1 Billion Valuation On AI Video Boom

Synthesia, a generative AI start-up based in Britain, has raised $180 million valuing it at $2.1 billion. The company uses artificial intelligence to create lifelike human faces and speech that are almost indistinguishable from real video but do not need cameras, actors or film studios.The latest fundraising round brings the total capital raised to more than $330 million. Synthesia added that the new valuation made it the UK’s most valuable generative AI media company. It is already considered one of Britain’s most promising AI start-ups.Matt Clifford, the British venture capital investor who helped establish the UK’s AI Safety Institute and has led the government’s AI policy review, recently named Synthesia as one of the UK’s “world-leading companies” in the area, along with Google DeepMind and Wayve.The series D funding round was led by New Enterprise Associates, with participation from existing investors including GV, an arm of Alphabet, and MMC Ventures along with new backers including the World Innovation Lab, Atlassian Ventures and PSP Growth. The company said it would use the funding to drive the expansion of its AI-powered video platform in several markets including Japan, Australia, Europe and North America. The extra money would also support development and talent growth.Victor Riparbelli, chief executive and co-founder of Synthesia, said: “This new investment will help us develop a new generation of AI-powered video experiences that are interactive, real-time and personalized, offering possibilities we could have only imagined when we founded the company in 2017.”More on Synthesia’s fundraising efforts and expansion Get full access to Neural News Network at remunerationlabs.substack.com/subscribe