Generative AI startup Synthesia in talks with US fund Accel to raise funds in a deal that could value it at around $1 billion, sources say
Generative AI startup Synthesia is in talks to raise funds from US firm Accel, sources say.
A deal could value the startup at around $1 billion, according to those familiar with the discussions.AI startup Synthesia is in talks to raise funds in a deal that could value it at around $1 billion as investor demand for the sector continues to intensify, sources say. The London-based company, founded in 2017, enables users to create professional videos, complete with a virtual avatar, from text in 120 different languages. Users can input text and a recording of their own voice which is then used to create synthetic video content that can be manipulated to create realistic virtual presenters with authentic voices in less than 15 minutes.
US venture capital giant Accel is primed to lead a new funding round, two sources familiar with the deal told Insider. While it is unclear how much Synthesia will raise, one source who looked at the deal said the startup could secure between $50 million and $75 million. The deal is not yet closed and details and figures could yet be subject to change as they are not finalized.Any deal would make Synthesia the latest European AI startup to tap up investors for fresh funds in 2023 with venture capitalists keen to build up sizable stakes in the sector. Fellow London startup ElevenLabs
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