1Bstories, a Singapore-based content technology startup, announced its emergence from stealth mode with $5.5 million in a funding round.
The funding was secured from Northstar Group, along with 47 other venture capital firms and angel investors, including Tim Dattels, who served as the Managing Partner for TPG Asia and Partner and Managing Director of Goldman Sachs.
The investment will accelerate product development, expand the team, and drive widespread adoption of Vidiofy in the market. The investment will be utilized to launch their breakthrough product, Vidiofy, a cutting-edge generative AI video tool.
Vidiofy is specifically designed to cater to publishers and brands looking to enhance engagement with their communities, expand their social following, and create new revenue streams. The platform allows businesses to effortlessly create high-quality videos, eliminating traditional barriers associated with video production, time, and manpower.
"We are thrilled to officially introduce 1Bstories and unveil Vidiofy to the world," said Anuvrat Rao, CEO and Founder of 1Bstories."Our mission is to empower publishers and brands to seamlessly create captivating videos at scale, leveraging generative AI technology. Vidiofy is set to disrupt the industry by revolutionizing video creation, allowing businesses to create content like never before."
The platform offers an intuitive and user-friendly interface that streamlines the entire video production process. The platform's ability to quickly publish and translate content into over 20 languages also helps customers grow their brands internationally.
Company: 1BSTORIES PTE. LTD.
Raised: $5.5M
Round: Unknown
Funding Month: July 2023
Lead Investors: Northstar Group
Additional Investors: Tim Dattels
Company Website: https://www.1bstories.com/
Software Category: Generative AI Video Tool
About the Company: Founded by Anuvrat Rao and other ex-Google employees, 1Bstories is a content technology startup that aims to tell 1 billion stories globally with the use of its innovative technologies and products. With Vidiofy, their flagship product, 1Bstories aims to enable businesses to effortlessly create engaging videos and leverage the power of generative AI technology. 1Bstories has already started working with a diverse range of customers across various industries, including mainstream US news publishers, niche digital Australian publications, large telecommunications companies in Indonesia, and real estate developers in Singapore.
Source: https://www.prnewswire.com/news-releases/1bstories-founded-by-ex-googlers-secures-5-5-million-in-funding-to-revolutionize-ai-video-creation-with-vidiofy-301889205.html