While total VC investment into UK businesses has slumped, B2B technology enablement is becoming a key driver of investment, not only in finance but across every sector.
In that scenario, Immersive Fox, a tech startup specialising in AI-generated videos for sales and corporate communication, has closed a €3.3 million Seed funding round to help advance proprietary AI tech that allows clients to create unlimited video content using their face and voice. The funding comes from a trio of prominent VC firms, including Redseed VC, Monte Carlo Capital, and Altair.
Alisa Patotskaya, CEO and Founder of Immersive Fox, comments: “This significant investment is a testament to the hard work and dedication of our team, who work together diligently to bring a wealth of experience and professionalism to the table. Both my team and investors are all excited to see how this innovation shapes the industry.”
Funding has been allocated to developing the company’s cutting-edge technologies further, with product and R&D plans including a video analytics tool, embeddable video player, UI animations and captions, and full body movement synthesis from text.
Boosting sales and attracting new talent is also on the agenda following the raise, with Immersive Fox aiming to increase its team twofold by the end of this year, to penetrate new markets and strengthen customer relationships.
Eugene Belov, managing partner at Redseed VC, one of the largest investors in Immersive Fox’s latest round, comments: “Artificial Intelligence came to the foreground of the investor community during 2022. With the rise of generative AI and LLMs, the tremendous disruptive potential of this technology became apparent to the broader population. However, the true value of any new technology lies in the extent to which it solves and simplifies existing problems and challenges. While we were very impressed with Immersive Fox’s tech stack and brilliant team, what really solidified the investment case for us was the company’s razor-sharp focus on the sales & marketing use case, which to this day saw very little innovation and disruption throughout the years. We are strong believers in the tremendous value Immersive Fox and its technology can generate for sales teams across multiple verticals by constantly tailoring their product to their customer’s needs.”
Founded in 2021, Immersive Fox, which currently has a host of customers on a waitlist across the fields of sales enablement, customer communications, learning & development and corporate communications, offers a superior alternative to traditional video content production, an often painful, time-intensive and expensive process for sales and marketing professionals (on average video production takes 3+ weeks and $2000-$5000/min).
As social media marketing rises, some have wondered “is email marketing dead?” However, in the battle for attention, video wins: viewers retain 95% of a message when they watch it on video, compared to 10% when reading it in a text. Despite this, few have the resources to produce it at scale. Immersive Fox’s solution allows its clients to create personalised videos on mass, in 1 minute to generate a 1 minute of sales videos on average – shaving 7 minutes off closest competitors. This saves time and money, enabling businesses to enhance customer experiences, streamline operations, and unlock new possibilities for growth.
Privacy and security are also paramount concerns for the company, who have taken proactive measures to prevent the theft of personalised avatars, clearly defining ownership in contracts, while all data is securely stored on its servers, ensuring confidentiality and peace of mind.
Read the orginal article: https://www.eu-startups.com/2023/07/london-based-ai-video-generation-startup-immersive-fox-secures-e3-3-million-seed-to-advance-ai-twin-tech/
