USA based AI startup Pictory raises USD 2.1 million in Seed round

Pictory, a Seattle-based AI startup that converts long-form content into hundreds of short-form multimedia content pieces, has raised USD 2.1 million in a Seed funding round led by Fuse, a Bellevue headquartered venture capital firm, on 4 January 2022.

Investors: The latest funding round was led by Fuse with participation from Voyager Capital, Omri Bahat and Bill Bryant and Bharat Shyam.

FUSE is a venture capital firm based in the Pacific Northwest that partners with early-stage software entrepreneurs. The VC primarily invests in Seattle-based seed and Series A companies.

The Objectives behind the funding: The company plans to deploy the current proceeds to expand its sales and marketing efforts as well as accelerate product development. With the amount raised in this round, Pictory will further accelerate its AI-powered innovation to handle various video use cases, including extracting key messages from long-form video and text content, searching for the best visual to accompany a social post, selecting the best music track to pair with the video, transcribing a video, text-to-speech rendering, create video highlights, and more.

About Pictory

Founded in 2019 by Vikram Chalana, Vishal Chalana and Abid Mohammed, Pictory offers an AI-Powered video solution that enables content creators and marketers to edit and produce videos automatically in minutes and at scale. The company is on a mission to convert verbosity to visual brevity. Over 5000 customers globally utilize it to create video highlights, edit videos using text, add captions to videos, repurpose existing long-form content such as podcasts, webinars, blogs into social snippets. The startup built its first prototype at a hackathon in Seattle in 2019 and launched the first version of its product in July 2020.

What the Founder has to say:

“We are very excited to partner with Fuse in our hyper-growth journey,” Vikram Chalana, CEO and Co-founder of Pictory, said. “ The investment and their network will help us to build and expand a global community of video content marketers. The investment will also help us significantly improve our AI algorithms in video production, enhancing the time-to-value for our community.”

What the Investor has to say:

“With Pictory, the average user has enterprise-ready video editing and publishing tools at their fingertips,” Kellan Carter, general partner at Fuse, said in a news release. “Pictory is led by a world-class team who have successfully built and scaled software companies before.” 

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