March was a slower month than February for video platform capital raises with three companies receiving venture funding for a total raised of nearly $17.2 million in funding. The trend of AI video generation platforms and content creation software tools is holding steady. When it comes to online video technology, AI video is the fasting growing category.
The quarter wrapped with nearly $127.5 million dollars in online video software platform funding kicking off a great start to 2023. It will be interesting to see if funding keeps trending down or we see another class of video platforms that emerge to take advantage of the AI generation revolution.
Let’s dive into this month’s video software platform funding & acquisition update for the month of April 2023.
AI-generated video company Tavus, has announced that it has raised $6.1 million in a seed funding round led by Sequoia Capital, alongside REMUS Capital, Y Combinator, SV Angel, Liquid 2 Ventures, GTM Fund, Mantis Capital, Hack VC, Terra Nova, Accel, Lightspeed Venture Partners, Index Ventures, Soma Capital, and Zillionize.
This seed round builds off of the funding they received as part of their participation in the Y Combinator accelerator in 2021. Tavus plans to use the raised capital to expand their team and further build out their AI video generation platform.
eCommerce video platform company Videowise has announced $3 million in a seed funding round led by Slack Fund, with participation from FounderCollective, Underline Ventures, MuVentures and Ratio Ventures. This round of capital investment brings Videowise’s total capitalization to $4.1 million in venture-backed funds.