TLDR:
- London-based AI-text-to-video platform, Colossyan, has secured $22 million in funding to enhance product development.
- The platform, which reduces production cost and time by 70-80 percent, is primarily used for corporate training videos.
Colossyan, a London-based AI-text-to-video platform, has announced the successful completion of a new funding round at $22 million. Led by Lakestar, the round saw participation from existing investors Launchub, Day One Capital, and Emerge Education, with the capital allocated to further fueling Colossyan’s product development. The tool, used for corporate training videos, reduces production cost and time by 70-80 percent. Initially pitched as a synthetic video production tool, and aimed at “news and media, finance and banking, e-commerce and virtually any other segment in which companies might struggle with video production,” Colossyan has gone on to find its niche in corporate training videos. Colossyan CEO and co-founder Dominik Kovacs shares: “The success we’ve achieved at Colossyan has come from listening to and quickly acting on insights we receive from leaders in corporate training, sales enablement, and customer education.”