Highlights:

  • Users of Caption can input text into the software that can be uttered by a photorealistic AI-backed avatar.
  • Users appear to have embraced the feature, as evidenced by the fact that Caption’s mobile app has been downloaded over 10 million times.

Generative AI video startup Captions LLC raised USD 60 million in the latest funding round on a valuation worth USD 500 million to propagate its generative video technology research.

Index Ventures LLP led the funding round, with participation from Hollywood star Jared Leto, Kleiner Perkins Caufield and Byers LLC, Andreessen Horowitz, Sequoia Capital Operations LLC, Adobe Ventures, and HubSpot Ventures LLC. Up to this point, Captions has raised USD 100 million, including the fresh capital.

A 2021 startup, Captions use AI to develop a “creative studio” that will enable users create studio-caliber videos with just some simple touches. To expedite the creative process, the organization offers a variety of tools, such as audio correction, dubbing, editing, captioning, and avatar creation.

The topic of generative AI in video has been expanding quickly, as seen by the rise of companies like Luma AI Inc. and the media attention that OpenAI’s emerging Sora has generated. Although Captions is a competitor in the same market space, it stands out by emphasizing videos that feature a speaking person.

Users of Caption can input text into the software that can be uttered by a photorealistic AI-backed avatar. In another way, they can suggest a topic to the software to develop a script. In response, the software will translate the dialogue into multiple languages.

The functionality of the business is projected as offering a “new age for creativity, empowering an entirely new group of creators who otherwise may have been blocked by the barriers that come with recording or editing.”

AI Edit, one of Captions’ tools, lets users entirely edit a video with just a tap while Lipdub, another tool creates natural body language and lip movement. Users appear to have embraced the feature, as evidenced by the fact that Caption’s mobile app has been downloaded over ten million times.

Damir Becirovic, partner at Index Ventures, stated, “By allowing anyone to produce studio-grade video, choose whether to put themselves or an avatar in front of the camera or instantly edit footage with a tap of a button, Captions is breaking down the barriers to great storytelling and unleashing a new wave of creativity. We’re excited to support them in this journey.”