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AI Video Startup HeyGen Raises $60 Million

HeyGen, a startup operating in the artificial intelligence industry, received investment funds for $60 million following the results of the financing round that values the firm at $500 million.

AI Video Startup HeyGen Raises $60 Million

Currently, the mentioned company provides users with access to a digital tool based on machine intelligence, allowing them to quickly create realistic-looking avatars.

Benchmark, Conviction, Thrive Capital, and Bond Capital participated in the startup financing round. As part of the deal, Benchmark partner Victor Lazarte joined the board of directors of HeyGen.

As of today, the startup has raised a total of $74 million in investment funds.

HeyGen was founded in 2020. This company is one of the startups that seek to simplify and make cheaper the process of generating content in the form of videos by artificial intelligence. It is worth noting that the number of firms engaged in such activities is currently increasing.

The digital product developed by HeyGen allows anyone to create a photorealistic avatar that can speak in its own voice and translate its words into different languages.

It is worth noting that the rapid progress in the sector of designing artificial intelligence tools has increased fears that a new generation of convincing deepfakes will emerge. The corresponding alarming forecasts, the materialization of which is still not a guaranteed scenario, are largely because the specified machine intelligence tools are becoming cheaper and more functional, gradually moving into the category of publicly available digital products.

As we have reported earlier, CuspAI Raises $30 Million.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.