Home Artificial Intelligence Capsule snags $4.75M for its AI-powered video editor that summarizes text, generates images and more

Capsule snags $4.75M for its AI-powered video editor that summarizes text, generates images and more

Capsule snags $4.75M for its AI-powered video editor that summarizes text, generates images and more

AI’s ability to reinvent web search stays murky, however the technology’s impact on on a regular basis tools appears to be more promising. Working example: A startup called Capsule has been putting AI to make use of in video editing software to enhance the speed and efficiency of post-production edits. After launching its AI-powered editor into beta, the corporate closed on $4.75 million in seed funding to commercialize the product.

Long term, Capsule says such technology could allow anyone to be creative with video, even in the event that they aren’t skilled video editors.

The corporate hasn’t at all times been into AI technology. Founded in 2020, Capsule emerged from the identical team that built the animated GIF capture tool and social network Phhhoto, which eventually lost out to Instagram’s clone, Boomerang. After shutting down their app in 2017, they moved on to an experiential marketing business for live events called Hypno. But they soon needed to pivot when the COVID-19 pandemic put an end to the necessity for Hypno’s in-person photo booths and other interactive experiences.

That led to the creation of Capsule, a platform that began as a way for brands to achieve their communities within the post-COVID era using online Q&As and video stories. In 2021, the corporate raised $2 million in pre-seed funding for its collaborative video platform from Array Ventures, Bloomberg Beta, and various angels.

The corporate isn’t necessarily attempting to use AI to take over the work of video editors. It says 90% of its revenue comes from the enterprise but, specifically, an underserved market of enterprise teams without video expertise that also need consistency in branding. Its video platform has been used at firms like Snowflake, TED, Salesforce, and The Wall Street Journal, amongst others.

More recently, Capsule began to explore how recent AI models could improve its product.

Citing data from HubSpot, the corporate points out that short-form video is ready to grow faster than another format in 2023, and over 90% of marketers said they plan to either maintain or increase their investment in video creation. However the demand for video exceeds the availability of skilled video editors, noted Capsule co-founder and CEO Champ Bennett.

“Despite the massive variety of video tools out there, the needs of enterprise teams have largely been ignored,” he said in the corporate’s funding announcement. “Ask anyone in marketing, comms, sales, or success they usually’ll let you know video outperforms all other formats, but they’ll also let you know they don’t get to make use of it often enough due to how costly and complicated it’s to make.”

To handle these challenges, Capsule built AI Studio, which focuses on AI-driven, post-production video edits.

The corporate showed off a demo of the technology in December (see below), which uses AI and machine learning in quite a lot of models, including an ASR (automatic speech recognition) model for transcribing the video’s audio into text.

It also offers a diffusion model for generating B-roll images from the transcript in addition to a generative LLM (large language model) that summarizes text from the transcript.

The AI Studio software runs within the browser, without requiring an app or extension to work, the corporate says.

After uploading a video to the platform, Capsule creates the transcript, which is placed off to the side of the video to be used in edits. Within the demo, the corporate showed how a user could select a block of text after which click a button to have the text routinely summarized and become a title card, using AI and its video markup language. There are different card styles available, including an animated title card page and a title card that appears below the video, each of which may be chosen with a click.

It also showed off how you could possibly select a block of text after which have AI generate a picture routinely based on the material identified within the highlighted text. Plus, you could possibly click into the text prompt field and adjust the text for more precise control over the top results.

One other feature permits you to select a line of text to have it appear as one in all several available caption styles, like full-screen text, animated captions, or perhaps a tweet-style caption.

“What we do for video is comparable to what firms like Jasper are doing for copywriting or Replit is doing for coding,” Bennett tells TechCrunch.  “We don’t own the models. As an alternative, we leverage the perfect foundational models to make video creators 10–100x more productive, while concurrently lowering the barrier to entry in order that teams in marketing, sales, success, and leadership can create compelling on-brand videos on their very own.”

Image Credits: Capsule

The edits themselves are powered by Capsule’s video scripting language, CapsuleScript, built over the past couple of years and designed to work within the browser. The entire AI model outputs are fed as inputs into CapsuleScript.

“Think what HTML/CSS are to web sites, CapsuleScript is to video. It could render video dynamically, each at create-time and run-time –– allowing for the creation of personalized video at scale for the primary time,” Bennett says. But he clarifies Capsule’s customers aren’t searching for a totally automated “one-click” solution, regardless that CapsuleScript can be able to that.

“In point of fact what customers actually want is 80% automation, and 20% customization in order that they can tell a novel, creative story with no ton of friction,” he explains.

After the demo was posted, the corporate needed to put access to AI Studio behind a waitlist attributable to demand, the corporate said.

With the extra funding, Capsule says it goals to make key hires across engineering, product design, and marketing teams to assist it more quickly commercialize its AI Studio product. It’s trying to add a dozen full-time employees, including an ML engineer, front-end engineer, head of video and marketing, and product designer.

Investors backing the corporate in the brand new seed round that closed late January include Human Ventures, Swift Ventures, InVision founder Clark Valberg’s Tiferes Ventures, Behind Genius Ventures, plus its pre-seed investors Array Ventures and Bloomberg Beta.

Angel investors include Replit CEO Amjad Masad, Dropbox CTO Arash Ferdowsi, Figma head of sales Kyle Parrish, former head of audio & video at Spotify/Anchor founder Mike Mignano, Chorus.ai co-founder Roy Ranani, and Gumroad founder Sahil Lavingia.

The corporate declined to share its metrics related to revenues or the whole number of shoppers but said it plans to announce the latter “soon.”

Including the brand new funding, the Latest York–based startup has raised $6.75 million since its founding.



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