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Aug X Labs has raised $1 million in seed funding to use AI to democratize video creation by content creators.
The New York company is building an AI-based visual storytelling platform that automatically transforms text or audio prompts into purpose-driven videos that catch your attention. The platform, in a limited alpha today, is aimed at any business or creative professional who uses video for creating ads, product demos, sizzle reels, company update videos, and any other form of visual storytelling.
The company wants its product to be used by small businesses, advertisers, marketers, podcasters, and other independent content creators to achieve their video-driven goals cheaper, faster, and easier.
Aug X Labs created the video embedded in this post about the GamesBeat Summit Next event in about 10 minutes, starting with just a prompt. You can basically collect media and text, run it through the engine, and then get a short video that pulls it all together. The product is in its alpha stage now.
Aug X Labs is founded by serial entrepreneur Jeremy Toeman (CEO), along with Scott Havird (CTO) and JT White (chief product officer and chief of staff).
Toeman said in an interview that the idea blossomed after working on a lot of cool AI tech for video processing.
“I started realizing that I actually don’t know how to make videos beyond recording some silly thing on my phone or webcam. But if I actually wanted to add special effects or anything cooler than that, I couldn …