Colossyan, a London, UK-based text-to-video startup, has announced that it closed a $5 million Series A funding to finance its primary product, Colossyan Creator, the top-rated text-to-video solution for learning & development professionals.
The round was led by LAUNCHub Ventures and backed by London-based L&D specialists, Emerge Education. Existing investors Day One Capital, Oktogon Ventures, and APX also participated.
With the latest funding, the company aims to grow its team from 21 to 40 by the end of the year.
Colossyan plans to expand its commercial functions in London and New York with key hires in sales, marketing, and customer success.
“The level of interest and variety of use cases our customers have found for Colossyan has been incredible. In addition, we’ve received great feedback on additional features they would like to see developed—we'll be able to do just that with our new investment.” – Dominik Kovacs, CEO of Colossyan.
Launched in May 2022, Colossyan Creator quickly emerged as a significant player in the L&D text-to-video market. The startup already provides services to 400 clients in 46 nations, including P&G and BMW.
Colossyan's Generative AI helps businesses and educational institutions avoid spending thousands of dollars per video, by cutting the production and localization of videos from 2-3 weeks to under 30 minutes.
Company: Colossyan, Inc.
Round: Series A
Funding Month: February 2023
Lead Investors: LAUNCHub Ventures
Additional Investors: Emerge Education, Day One Capital, Oktogon Ventures, and APX
Company Website: https://www.colossyan.com/
Software Category: AI Video Creation Software
About the Company: Founded in 2020 Colossyan is a technology company that aims to create personalized videos and software for marketing, sales, and customer success. Colossyan generates learning and development (L&D) training videos from a text prompt using generative artificial intelligence. The company's platform personalizes and automates video creation for sales communication and content marketing. Colossyan’s AI algorithms generate real-life actors to create hyper-realistic, synthetic videos in minutes—just by inserting a script.