Aug X Labs, a New York-based AI video technology startup, announced that it raised $1 million in pre-seed funding to use AI to democratize video creation by content creators.
Aug X Labs' initial investors and advisers include Yohei Nakajima (Untappd.VC), Noah Gale (Co-Founder, Tribe AI), Marc Whitten (SVP & GM, Create @ Unity), Alanna Gregory (Crosscut VC), David Beck (Brightcove), Ben Parr (Octane.AI), Rahim Fazal (CEO of SV Academy/x-Oracle), Jesse Redniss (Qonsent), Avner Ronen (founder, Boxee), Kevin Conroy, Rob Hoffer, Ryan Bricklemyer, Deep Banerji, Scott Ryan, and others.
The company is building an AI-based visual storytelling platform that automatically transforms text or audio prompts into compelling, purpose-driven videos that convert audiences.
Its platform allows users to automatically augment their video creations using open or licensed media (photos, short clips, etc.), generative media (AI Art), and owned media.
Anyone with an iPhone or webcam can record and upload video, but creating meaningful visuals with content that is dynamic, engaging, and impactful still requires expensive, time-consuming software with a huge learning curve or hiring professionals. We saw an opportunity to create a product that solved those challenges and put video production skills in the hands of anyone and everyone," said Jeremy Toeman, founder and CEO of Aug X Labs. "Our goal is to help people create better content that can have a real positive impact on their audiences."
Aug X Labs product will be revealed later this year as it enters public beta.
Company: AugX Labs
Raised: $1.0M
Round: pre-Seed Round
Funding Month: October 2022
Lead Investors: Yohei Nakajima, Noah Gale, Marc Whitten, Alanna Gregory, David Beck, Ben Parr, Rahim Fazal, Jesse Redniss, Avner Ronen, Kevin Conroy, Rob Hoffer, Ryan Bricklemyer, Deep Banerji, Scott Ryan
Additional Investors:
Company Website: https://www.augxlabs.com/
Software Category: AI-based Visual Storytelling platform
About the Company: Founded by serial entrepreneur Jeremy Toeman, along with Scott Havird and JT White, Aug X Labs is an AI-based "prompt to video" technology and publishing startup focused on helping creators bring relevant and compelling visuals into their video stories. Its primary focus is to build tools for creators that help democratize video creation by transforming anyone's words or thoughts into dynamic, engaging, and relevant video content in mere minutes. Aug X Labs is building an AI-based visual storytelling platform that automatically transforms text or audio prompts into purpose-driven videos that catch your attention. The company's platform allows users to augment their video creations using open or licensed media (photos, short clips, etc.), generative media (AI Art), and owned media.
Source: https://www.augxlabs.com/announcement-1