British AI startup Synthesia raises a $180 million.
Synthesia, an AI video platform that creates multilingual human avatars, has successfully raised $180 million in a funding round, increasing its valuation to $2.1 billion. This is a significant rise from its previous worth of $1 billion in 2023. The funding was led by NEA, with contributions from Atlassian Ventures, World Innovation Lab, and PSP Growth. Notably, Synthesia is also supported by Nvidia.
CEO Victor Riparbelli emphasized that investors view Synthesia differently from other AI companies because of its focus on practical utility rather than hype. He stated that Synthesia is not reliant on venture capital like other AI firms, which often spend heavily to develop their models.
The company is part of a growing trend in AI-driven video production, alongside startups like Veed.io and Runway, as well as established firms like OpenAI and Adobe. Eric Liaw from IVP noted that application-layer AI companies, like Synthesia, do not attract as much investor excitement as those in the infrastructure layer.
The recent funding will be used to enhance product development and improve security measures. Synthesia has made significant updates to its platform, including new features for creating avatars and a screen recording tool. The company has also prioritized AI safety, conducting tests to prevent misuse of its technology.
Riparbelli mentioned that there is increasing interest from large U.S. enterprises, with over half of Synthesia’s revenue now coming from the U.S. The company has expanded its workforce, hiring former Amazon executive Peter Hill as CTO, and now employs over 400 people globally. This investment reflects confidence in British tech and highlights the U.K.’s leadership in generative AI innovations.
OpenAI introduces a new feature called “Tasks”
OpenAI has introduced a new feature called “Tasks” for its AI assistant, ChatGPT. This feature allows users to schedule tasks and reminders, enhancing the assistant’s capabilities. Currently, it is available in beta for ChatGPT Plus, Team, and Pro users globally.
The Tasks feature enables users to set various reminders. For instance, you can ask ChatGPT to remind you about important dates, like when your passport expires, or to create a personalized weekend plan every Friday.
Users can set one-time reminders, such as “Remind me to renew my gym membership in two weeks,” or recurring requests, like “Send me a daily news digest at 8 a.m.” Notifications will be sent to users on their preferred platform, making it a useful alternative to traditional digital assistants like Siri or Alexa.
