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Jan. 15, 2025, 4:23 a.m.
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Synthesia Secures $180M Funding, Reaches $2.1B Valuation

LONDON — Synthesia, a video platform leveraging AI to create multilingual human avatars, recently raised $180 million in funding, valuing the startup at $2. 1 billion, over double its previous $1 billion valuation in 2023. Based in London, Synthesia announced that NEA led the funding round, with participation from Atlassian Ventures, World Innovation Lab, and PSP Growth. NEA’s portfolio includes Uber and TikTok parent ByteDance, and Synthesia also has backing from Nvidia. CEO Victor Riparbelli explained on CNBC that investors view Synthesia as unique due to its emphasis on "utility. " He mentioned, "The hype cycle benefits us, but our focus is on building a truly good business. " Unlike other AI firms like OpenAI or Anthropic, Synthesia isn’t "dependent" on venture capital. Other AI startups such as Veed. io and Runway are also innovating video production. Meanwhile, companies like OpenAI and Adobe have developed generative AI tools for video creation. Eric Liaw of VC firm IVP told CNBC that AI application layer companies haven't attracted as much investor interest as infrastructure firms. He explained that these companies often need less funding, leading to lower valuations compared to giants like Nvidia. Riparbelli stated that the funds from this round would continue to drive product development and enhance security and compliance. Last year, Synthesia upgraded its platform to include features like creating AI avatars with a webcam or phone, full-body avatars with arms and hands, and a screen recording tool featuring an AI avatar guide. In October, Synthesia addressed AI safety issues with a public red team test led by Rumman Chowdhury, a noted data scientist and former head of AI ethics at Twitter.

This test assessed online harm risks and emphasized how the company's compliance measures prevent the misuse of avatars, such as creating non-consensual deepfakes or promoting harmful content. Riparbelli noted growing interest from large U. S. enterprise customers, attributing this to strong focus on security and compliance. Over half of Synthesia's annual revenue now comes from the U. S. , with Europe accounting for almost the other half. The company is expanding its team, recently hiring former Amazon executive Peter Hill as CTO, and now employs over 400 people globally. Synthesia's funding news aligns with UK Prime Minister Keir Starmer's 50-point plan to position the U. K. as a leader in AI. UK Technology Minister Peter Kyle highlighted the investment as an indicator of confidence in British tech and the pioneering role of U. K. -based companies in generative AI innovation.



Brief news summary

Synthesia, a London-based startup, has secured $180 million in funding, raising its valuation to $2.1 billion. NEA led this round, with contributions from Atlassian Ventures, World Innovation Lab, and PSP Growth. Unlike many AI firms, Synthesia focuses on practical uses and ensures security and compliance. CEO Victor Riparbelli emphasized the company's commitment to building a sustainable business amid a rapidly evolving AI landscape. The funding will be used for product development and security improvements, with recent updates allowing avatar creation on standard devices and introducing features like full-body avatars and screen recording tools. Concerned about AI safety, Synthesia conducts public tests to tackle deepfake issues. With over half its revenue coming from U.S. clients and increasing interest, the company has expanded its team, including former Amazon executive Peter Hill as CTO. This expansion highlights the U.K.'s leadership in AI and confidence in British tech innovation.
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