Argil has closed a seed round supporting its virtual platform powered by artificial intelligence, which helps businesses, educators, and creators to produce videos.
The mentioned company was able to raise 4.9 million euros (about $5.2 million) in pre-seed and seed funding. The relevant information is contained in the publication of EQT Ventures, which led the seed round, posted on LinkedIn last Wednesday, November 27.
Argil’s virtual platform uses generative artificial intelligence to produce life-like avatars and videos in minutes. This information is contained in a publication posted by EQT Ventures.
EQT Ventures Partner Ted Persson stated that the mentioned virtual platform is perfectly positioned to benefit from two megatrends, among which are AI and the creator economy. Also, in this context, it was noted separately that synthetic media has become one of the most rapidly adopted technologies.
According to information published on Argil’s website, the company’s virtual platform generates AI videos for social media featuring an individual or a generic avatar in two minutes.
Argil offers consumers free and paid plans. Paid interaction with the company’s virtual platform provides custom avatars, more video minutes per month, editing features, and other benefits.
It is worth noting that there are currently several digital platforms that roll out tools powered by artificial intelligence to generate videos. For example, in the current month, TikTok made its AI-powered video generation tool available to all TikTok for Business users. In October, Adobe rolled out an artificial intelligence model designed for appropriate purposes. In this case, text prompts can be used to generate videos.
As we have reported earlier, Boosted.ai Raises $15 Million.
