Rephraise.ai Raises $10.6 Million In New Funding Round Led By Red Ventures

Updated on: 19 September 2022 9:34 pm

The development comes a week later after Ola onboarded new members across key positions for its electric vehicle business, Ola Electric, to unify operations

Ola Plans To Lay Off 200 Employees In Engineering Department: Report Photo: The development comes a week later after Ola onboarded new members across key positions for its electric vehicle business, Ola Electric, to unify operations

The artificial intelligence (AI) start-up, Rephrase.ai, has raised $10.6 million led by Red Ventures to enhance operations by integrating new product experiences, scale hiring, and expand its presence in North America. Apart from Red Ventures, Silver Lake, and 8VC, amongst others also participated in the funding round.

As per a report by The Economic Times, the artificial intelligence start-up aims to democratize video and create high-quality video creation capabilities. Carlos Angrisano, President at Red Ventures said, “With the current mass customization of video content, our bet is on the reinvention of the video production process, and that, as a business process technology, has incredible potential. We are impressed by Rephrase.ai’s leadership and talent bench, which is a tremendous competitive advantage in such a nascent field.”

The company has onboarded 23 more people in the past one year including some researchers from Google, Samsung, Facebook and Amazon.

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