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Startup of the Month - InVideo AI

InVideo AI is a cloud-based video editing platform that utilizes AI and text-to-video conversion in more than 50 languages to help users create high-quality videos quickly and easily.
InVideo is well-positioned in the video editing software market, which is expected to grow from $3.09 billion in 2023 to $5.13 billion by 2032 with a CAGR of 5.8%. The AI video editing software segment is projected to grow at a CAGR of 6.3%, and InVideo is poised to benefit from this growth by serving users across SMBs, marketing agencies, corporate clients, and e-commerce.
InVideo is a freemium video editing platform, with subscription-based monthly and annual plans that allow users to gain access to a vast library of customizable video templates for various industries, ranging from $20/month to $48/month. The free tier attracts users who are then converted to paid subscriptions.
The company has raised over $52.5 million in 7 rounds of funding from 14 investors, with a daily sign-up rate of 60,000 and a customer base of 25 million users in 190 countries. It is eyeing a valuation between $180 million and $200 million.
InVideo’s strong financial performance with a footfall of 60k daily sign-ups, 4x users growth, and revenue of $30M(run rate) validates the Product Market Fit. The company is gaining popularity among content creators and has a significant advantage over its competitors, particularly Adobe and Canva.
InVideo’s cofounders have extensive experience in founding startups, and their approach to product-led sales is grounded in deep insights about their domain. CTO, Anshul Khandelwal, is the key driving force behind the quality of AI-generated video content on the platform, and the company spends a significant amount on R&D in generative AI and video production space.
While the company had plateaued in revenue in 2021-2022, it has taken mitigation strategies to address this. The CTO’s team is selective with their talent hires and keeps working on product-led sales and revising Go-to-Market strategies.
DeepTech VC firms looking to invest in innovative founders who bring deep insights about their domain, InVideo, with its focus on blending DeepTech domains like Generative AI and Foundational models, aligns with these investment theses.
Given its growing customer base and ARR of $30M, InVideo has significant potential to become a unicorn, with major leaders likely eyeing its acquisition. With a focus on the booming creator economy, investing in InVideo places DeepTech VC firms at the forefront of the video editing market's exponential growth potential.
Overall, InVideo's leadership in AI-powered video creation makes it an attractive investment opportunity for DeepTech VC firms, with its innovative approach and extensive market presence.

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Pymnts

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FBI Reportedly Investigating Hone Capital’s Connections to China

The FBI is investigating Hone Capital's connections to China.
Investigators are looking into whether Hone passed trade secrets to the Chinese government.
There are concerns about Hone's portfolio companies delivering services to the American government.
The investigation comes amid increasing security measures over Chinese espionage in tech firms.

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VC Cafe

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Needle in the haystack: tips for founders to find the right investor

Finding the right investor for your startup can feel like searching for a needle in a haystack. Cast a Wide Net, Then Narrow Down. Prioritize for Fit. Map Your Connection Paths. Seek Vertical Expertise. Do Your Homework. Craft a Compelling Story. Be Patient and Persistent. Build Relationships Early.
Start by creating a list of potential investors. A targeted approach is more effective than mass outreach. Identify your best route of contact. Founders value understanding and belief in their vertical. Study the investor’s portfolio & understand their investment thesis.
Look for specialized funds in your industry. Good personal fit is important. Clearly articulate your unique value proposition, show traction and market potential. Be patient, rejections are part of the process. Build relationships with potential investors before you actually need funding.

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Saastr

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5 Interesting Learnings from Samsara at $1.26 Billion in ARR

Samsara, a company in the SaaS industry, is thriving with no slowdown in growth despite macro impacts.
Key highlights include: $1.26B in ARR, 36% growth, $24B market cap, and 4% FCF margins.
39% of revenue still comes from $10k-$100k customers, emphasizing the importance of not neglecting smaller deals.
67% of large customers and 50% of core customers use 2 or more Samsara products.

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Medium

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Why We Invested in Supabase

Craft co-led the $80M Series C round in Supabase, the open source Postgres platform.
Supabase offers easy-to-use, scalable database solutions for developers.
Supabase has a suite of services including authentication, file storage, and edge functions.
Supabase is loved by developers and enterprises, with over 70K+ stars on Github and partnerships with Fortune 500 companies.

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Medium

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Allow me to reintroduce myself

After a career in journalism, the author transitioned to working as a contractor, offering various services.
They recently launched a newsletter called The Venture Lens and will soon launch a podcast called The Venture Variety Show.
The podcast aims to explore trends, storytelling, and platforms within the venture community.
The author invites entrepreneurs, investors, and founders to join them on this new journey through their newsletter and podcast.

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Alleywatch

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Wrapbook Raises $20M to Simplify Production Finance and Payroll for the Entertainment Industry

Wrapbook has raised $20M in a Series B extension round, led by Bessemer Venture Partners.
Wrapbook offers a modern, all-in-one solution for production finance and payroll, tailored specifically for the entertainment industry.
The platform empowers finance and accounting teams with real-time information, streamlining payroll processing and fostering collaboration while ensuring compliance.
Wrapbook handles entire productions from pre-production to wrap, making it a seamless addition to existing tech stacks.
The platform’s versatility has attracted a diverse clientele, from major studios to independent productions, resulting in impressive growth with over 1000 companies now using the service and a 50% year-over-year revenue increase.
Wrapbook was inspired by the challenges faced by production finance teams who work under immense pressure with outdated, fragmented systems.
Wrapbook stands out through its combination of next-gen technology and a modern service model.
Wrapbook targets the entertainment industry, specifically production finance teams across film, TV, commercials, and live events.
Wrapbook operates on a transactional pricing model where they charge a percent of wages processed.
Over the next six months, Wrapbook plans to expand its product offerings and continue growing its client base.

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Medium

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Why we invested in MOTH: The ready-to-drink cocktail brand shaking up the market

UK-based brand MOTH has created a selection of canned cocktails that deliver authentic cocktail-bar experiences with the ease of opening a beer or popping a cork.
The company's range covers ten premium canned cocktails, including Margarita, Mojito, Cosmopolitan, Old Fashioned, and Espresso Martini.
Through strategic partnerships with major retailers like Waitrose, Sainsbury’s, Tesco, Morrisons, ASDA, and The Co-Op, MOTH has become the UK’s fastest-growing premium RTD brand, according to Nielsen.
Within just three years, MOTH has become a staple across over 3,000 UK supermarkets, selling one can every seven seconds on average.
MOTH has secured a significant partnership with Wagamama, marking the beginning of MOTH’s venture to integrate into fast-casual dining experiences.
MOTH’s growth trajectory boasts a two-year compound annual growth rate (CAGR) of 178% and year-on-year growth of 144%.
The company has an experienced leadership team and advisory board with a variety of industry veterans — from grocery industry leaders to Diageo managers — who provide valuable insights, providing MOTH with a solid foundation to move forward.
MOTH has recently entered the American market with a focus on expanding into more states and building new partnerships. The brand believes that the US market offers a huge opportunity for success.
Beringea, UK funds management firm, recently invested £4.6m into MOTH. With Beringea’s transatlantic footprint, the firm aims to provide support and advice as the company enters this crucial new chapter.

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Medium

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Am I thinking about AI the right way?

AI can be a sustaining innovation in industries where incumbents have an advantage in data or complex workflows.
The role of AI can either be a copilot, augmenting human capabilities, or an autopilot, fully automating tasks.
AI solutions can be designed to handle proprietary data or benefit from sharing data across customers.
The extent of the early-mover advantage in AI is uncertain and could depend on factors like increasing sample sets or fast-followers with better technology.

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Siliconangle

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Whatfix raises $125M to expand global reach and enhance its digital adoption platform

Whatfix, a digital adoption platform and analytics provider, has raised $125 million in late-stage funding.
The funding will be used to enhance the product suite through organic growth and strategic acquisitions and expand global market presence.
Whatfix offers a digital adoption platform powered by generative artificial intelligence.
The platform helps organizations improve software adoption and user productivity.

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Medium

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Building Resilient Startups: Lessons from African Entrepreneurs:

Navigating the regulatory environment and staying compliant with local regulations is a major challenge for startups in Africa.
Access to capital remains a pervasive issue, and startups are encouraged to explore diverse funding sources.
Economic volatility, inadequate infrastructure, and fragmented markets are additional obstacles that startups must overcome.
Investing in local talent, networking, embracing technology, and solving local problems are key factors for building resilient startups in Africa.

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Medium

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How Kestra Raised $8M: Our Seed Deck, Now Public

Kestra's $8m seed funding story has been shared by CEO/founders and VCs of various leading companies.
The funding helped Kestra establish their vision and address key challenges in orchestration.
Kestra aims to democratize orchestration for everyone and break down operational silos.
Their solution is a hybrid of code-based and UI-based workflow builders that are fully integrated and scalable.
Kestra believes that its value proposition is that it's a platform that can evolve with the needs of tomorrow's businesses.
Kestra's product-led growth strategy leverages a community driven approach to improve its open-source product.
Kestra enables businesses to plug into and scale their operations with an API-first approach.
The goal of Kestra is to strike a balance and not just be a complex dev tool or a UI-based workflow manager.
Kestra addresses accessibility, scalability, and community-led innovation and is building the platform for the future of orchestration.
Kestra's unique vision and cohesive pitch earned them $8m in seed funding.

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Siliconangle

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Tamnoon raises $12M to advance managed cloud security remediation

Managed cloud security remediation startup Tamnoon Inc. has raised $12 million in funding.
Tamnoon offers a service that combines human intelligence and AI to mitigate cloud security risks.
The company's solution aims to reduce cloud exposures and enhance cloud security.
Tamnoon's approach provides a 90% reduction of critical cloud threat exposure in the first 90 days.

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Medium

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Conversational AI updates (Jul-Aug 2024)

OpenFi, a conversational AI platform, has secured €585k pre-seed funding round led by Bijan Morvaridi. The platform’s SalesTalkAI enables human-like conversations eliminating the need for additional staff.
SleekFlow, a Singaporean provider of an Omnichannel Conversational AI Suite, has secured $7 million in Series A+ funding round. The funds will enhance SleekFlow’s conversational AI suite and facilitate expansion into Southeast Asia, the Middle East, and Europe.
SoundHound AI has announced its acquisition of Amelia for $80 million. The move aims to explore new market segments and extend SoundHound’s voice AI technology into industries such as healthcare, financial services, and retail.
Bland AI, a conversational AI automating phone calls with hyper-realistic AI agents, has emerged from stealth mode with $16 million Series A financing round led by Scale Venture Partners. The funds will help businesses streamline phone-based tasks, including customer support, sales, and internal operations.
Gnani AI, a voice AI startup, has raised $4 million in funding round led by Info Edge Ventures. The Bengaluru-based firm offers no-code, voice-first platform primarily serving the banking, financial services, and insurance sectors.
Moveo.AI, in enterprise conversational AI, has raised over €2.3 million in seed funding, supported by Uni.Fund and Charge.vc. The company is already making waves in the Generative AI space, having recently won first place at the Mastercard Fintech Forum in Southeast Europe and Israel.
Boost.ai has announced a new partnership with CX Effect to elevate CX Effect’s offerings, by integrating boost.ai’s cutting-edge hybrid AI platform crafted to provide seamless and scalable customer interactions. Boost.ai stands out as the only global conversational AI platform with ISO/IEC 27001 certification.
Amazon's latest breakthrough, Rufus, is a generative AI-powered chatbot designed to transform the online shopping experience. By employing generative AI, Rufus creates natural conversations, making interactions feel more human and distinguishing it from traditional chatbots.
Salesforce has introduced its Einstein Service Agent, a fully autonomous AI agent capable of addressing service issues. Built on the Einstein 1 Platform, the Einstein Service Agent analyzes the context of customer messages to determine appropriate actions using large language models and generative AI for crafting tailored conversational responses.
Kore.ai has launched its Generative AI and LLM Platform for Enterprises, designed to help businesses easily create scalable generative AI applications. With a no-code toolset, GALE features a drag-and-drop flow builder for developing workflows, applications and an AI agent to automate tasks.
Omilia, a leader in enterprise Conversational AI (CAI), has unveiled Pathfinder, a tool designed to streamline the design and development of CAI applications. By analyzing data, Pathfinder identifies customer intent and generates solutions for queries and creates optimal conversational flows and outcomes.
Chinese e-commerce giant Alibaba is set to launch an AI-powered conversational sourcing engine in September, promising to revolutionize the global sourcing process for SMEs by making it more intuitive and efficient.
Notable trends in Conversational and Generative AI that emerged in July and August 2024, showcasing how these technologies are becoming increasingly sophisticated and integrated into various sectors.

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Medium

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NexusLink & HoloData: Unlocking Quantum Worlds and Shaping the Future of Reality

NexusLink and HoloData are revolutionary quantum technologies that will transform communication and data storage.
NexusLink enables instant, secure, and limitless communication through quantum entanglement, making distance irrelevant.
HoloData uses quantum holography to store data in three-dimensional fields, providing unprecedented information density.
These technologies have wide-ranging applications, including quantum networks, holographic entertainment, space communication, quantum medicine, and future data archives.

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