In an impressive move to enhance its content automation capacities, VideoVerse, the SaaS start-up celebrated for its video editing platform, has announced its acquisition of AI-driven design system, Optikka.
The Fusion of Video and AI-Driven Design
This acquisition is not just a simple business merger but a strategic effort to boost VideoVerse’s content automation tool, Magnifi.ai. In addition, Optikka’s design expertise and AI capabilities will be integrated, further revolutionizing the real-time editing functionalities provided by Magnifi.
New Faces, New Visions
Enriching its talent pool, VideoVerse welcomes aboard Optikka’s brainchild, founder Charles Duncan, a recognized creative technologist, and seasoned creative strategist Nick Arciero. The duo’s shared experience with Disney’s various business segments adds an exciting dimension to the team.
Also Read: WhatsApp Adopts Passkeys A Leap Towards Enhanced Security in Asia Pacific
Prateek Sharma, the Chief Strategy Officer at VideoVerse, expressed enthusiasm, stating, “We aim to metamorphose Magnifi from being just a tool to a comprehensive post-production automation platform. Our clients will soon witness the transformative potential of Optikka.”
From Toch.ai to VideoVerse: A Transformation
Earlier recognized as Toch.ai, VideoVerse was established by industry stalwarts Vinayak Shrivastav, Saket Dandotia, and Alok Patil in 2016. Beginning its journey by automatically generating instant key moments using AI and computer vision, the company has diversified its services. Today, it addresses the demands of an extensive clientele, including OTT platforms, e-gaming arenas, broadcasting sectors, and more.
Optikka: Vision Beyond the Ordinary
Originally designed to cater to the visually impaired, Optikka has significantly evolved, now offering AI-aided designs enriched with creative coding and generative art. The design powerhouse extends its services across various platforms, including metaverse, XR, and broadcast, showcasing its capability to help intellectual property proprietors distribute and monetize events swiftly, ranging from entertainment to sports.
VideoVerse: On An Acquisition Spree
Optikka is not the first acquisition for VideoVerse this year. Earlier, the company expanded its portfolio by integrating the US-based content generation start-up, Reely.ai. These acquisitions follow closely after VideoVerse’s significant funding boost of $46.8 Mn from renowned investors, including Flipkart’s co-founder, Binny Bansal.
A Vibrant Scenario for Content Startups in Asia-Pacific
The region is witnessing a surge in startup activities in the content domain. Case in point, Pep recently garnered $2.5 Mn in seed funds from venture capital giant, India Quotient. Additionally, digital content pioneer Knocksense procured funding from renowned singer Lucky Ali, signaling its aggressive expansion intentions.
This flurry of activities in the Asia-Pacific content space showcases the region’s growing potential and the importance of AI and automation in reshaping the media and entertainment industry’s future.
