Oxolo, a Hamburg, Germany-based startup that provides generative AI solutions for text-to-video applications, has raised €13 million in Series A funding.

SaaS Investors

The funding was led by DN Capital and included participation from individual investors. Including Christian Vollmann, Johannes Plehn, Thomas Hagemann, Stefan Wiskemann, Alex Täubert, and Mischa Ruerup.

Oxolo Use of Funds

The company plans to use the funds to advance its research and development efforts, expand its team, and accelerate the commercialization of its AI solutions. 

About Oxolo

Founded in 2020 by Elisabeth L’Orange and Heiko Hubertz, Oxolo is building a platform for generative AI-based media. Oxolo's AI solutions enable the automated generation of videos for various applications, including advertising, e-commerce, e-learning, and e-health. Oxolo has attracted over half a million customers from more than 75 countries, including well-known firms like Deloitte and Rothschild.

Funding Details

Company: Oxolo GmbH

Raised: €13.0M

Round: Series A

Funding Month: October 2023

Lead Investors: DN Capital

Additional Investors: Christian Vollmann, Johannes Plehn, Thomas Hagemann, Stefan Wiskemann, Alex Täubert, and Mischa Ruerup

Company Website: https://www.oxolo.com/

Software Category: AI-driven Video Platform

Source: https://www.finsmes.com/2023/10/oxolo-closes-e13m-series-a-funding.html