Ex-Microsoft engineer’s AI video startup scores $60M from top VCs, Jared Leto

by | Jul 9, 2024 | Technology

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As the demand for generative AI video grows, startups in this space are attracting big money from venture capital firms. Recently, RunwayML was reported to be raising a large round of funding. Now, Captions, an AI video startup founded by former Microsoft engineer Gaurav Misra, has secured $60 million in Series C funding.

Founded in 2021, Captions started as a camera app in which users recorded ‘talking videos’ by engaging with the camera directly. Over the past year, the company has shifted its focus to AI, enabling users to create videos with avatars from scratch. It has essentially become an AI-powered creative suite for video creators.

Misra stated that the investment, led by Index Ventures, values the company at $500 million. However, it’s not a lone effort, as existing investors Kleiner Perkins, Sequoia Capital and Andreessen Horowitz, as well as new investors Adobe Ventures, HubSpot Ventures and actor and singer Jared Leto (who previously backed Pika) also participated in the round. 

Captions will use the capital to grow its ML team in New York and launch new generative innovations to position itself as the leader in the AI video space. 

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Captions’ holistic suite for AI videos

From the roots of manual video creation, where users had to talk, record and edi …

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We want to hear from you! Take our quick AI survey and share your insights on the current state of AI, how you’re implementing it, and what you expect to see in the future. Learn More

As the demand for generative AI video grows, startups in this space are attracting big money from venture capital firms. Recently, RunwayML was reported to be raising a large round of funding. Now, Captions, an AI video startup founded by former Microsoft engineer Gaurav Misra, has secured $60 million in Series C funding.

Founded in 2021, Captions started as a camera app in which users recorded ‘talking videos’ by engaging with the camera directly. Over the past year, the company has shifted its focus to AI, enabling users to create videos with avatars from scratch. It has essentially become an AI-powered creative suite for video creators.

Misra stated that the investment, led by Index Ventures, values the company at $500 million. However, it’s not a lone effort, as existing investors Kleiner Perkins, Sequoia Capital and Andreessen Horowitz, as well as new investors Adobe Ventures, HubSpot Ventures and actor and singer Jared Leto (who previously backed Pika) also participated in the round. 

Captions will use the capital to grow its ML team in New York and launch new generative innovations to position itself as the leader in the AI video space. 

Countdown to VB Transform 2024

Join enterprise leaders in San Francisco from July 9 to 11 for our flagship AI event. Connect with peers, explore the opportunities and challenges of Generative AI, and learn how to integrate AI applications into your industry. Register Now

Captions’ holistic suite for AI videos

From the roots of manual video creation, where users had to talk, record and edi …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]

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