216 Capital leads Imaginario AI's $1M pre-seed investment round
Currently, 82% of Internet content is video. However, the difficulty with video data and workflows for companies lies in the time required to analyze it, search and select the most interesting passages and adapting those moments for different platforms and audiences. The promise of startup Imaginario AI is to facilitate and reduce this production process with the power of artificial intelligence. Large Hollywood Studios and media companies have reported that Imaginario AI has saved more than 60% of search and creation time.
Imaginario AI revolutionizes the processing of video and audio content using artificial intelligence. With its powerful AI-powered API and platform, Imaginario AI can handle large volumes of data, and significantly simplifies and accelerates the processes involved in creating and understanding multimedia content for marketers and content creators. Its customers include Warner Bros. Discovery, Universal Pictures and Cineverse.
To expand its presence on the international market, the startup has closed a $1 million pre-seed funding round led by 216 Capital, alongside Blue Lake VC, Earthling Ventures, Comcast NBCUniversal, Techstars and a series of business angels. This investment will enable the startup to consolidate its development and expand its engineering and sales teams in the USA, Europe and the MENA region through Tunisia.
Imaginario AI was founded in 2021 by experts who combine over 25 years of expertise in video and multimodal AI: Jose M. Puga, CEO, has been able to manage the creation and growth of video services for companies such as the BBC and Warner Bros Discovery, & Abdelhak Loukkal, CTO, has developed AI solutions in robotics and autonomous driving, used to date by Softbank Robotics and Renault.
"Imaginario is responding to an increasingly urgent challenge in the video content industry," says Dhekra Khelifi, partner at 216 Capital. It was important for us to generate interest in Tunisia with Imaginario, so that they could see it as an access point to the MENA market. The Tunisian talent specialized in AI recruited by Imaginario will be decisive in the startup's success, along with the leadership and expertise of José and Abdelhak and their exceptional knowledge of the market."
This investment will enable the startup to strengthen its presence on the international market and give Tunisian talent the opportunity to enjoy international experience within a startup at the cutting edge of technological innovation in the field of artificial intelligence. Imaginario AI, currently supported by the Techstars Comcast Lift Labs Accelerator, is already accelerating their business development and planning a seed round of investment in 2024 to raise $2 additional millions.