AI localisation platform Deepdub has announced that it has raised $20 million in Series A funding. The announcement comes after a series of deals signed by the Israeli company for producing artificial intelligence based dubbing projects for multiple Hollywood studios.
The funding was led by New York-based global venture capital and private equity firm Insight Partners and supported by existing investors Booster Ventures and Stardom Ventures and the addition of a new investor Swift VC.
George Mathew, Managing Partner at Insight Partners, said, "We are accelerating to a world where AI is now augmenting humanity's creative potential. As the media industry continues to globalise, we see Deepdub's AI/NLP-based dubbing platform as essential in scaling great content to audiences everywhere. We believe Deepdub represents the next great leap forward in global content distribution, engagement and consumption." George Mathew will also be joining Deepdub's Board of Directors.
The V-C funding was swiftly followed by the angel investors joining the round which include corporate heavyweights like former President of Fox Television Studios' Emiliano Calemzuk , former CCO of HBO Max's Kevin Reilly, Danny Grander Co-Founder of Snyk, VP, Engineering at Meta's Roi Tiger, Gideon Marks and Daniel Chadash.
According to the company’s statement, the funds will be used to hire and bolster the Tel Aviv based R&D team with additional top-notch researchers and developers, expand the global reach of the company's sales and delivery teams and further enhance the company's best-in-class deep learning-based localization platform.
Nir Krakowski, Co-Founder and CTO of Deepdub, said, "This funding round is an acknowledgement of the revolutionary technology that we have built, taking generative AI to an industry where every pixel and every sound wave is rigorously examined. By creating a deep learning platform that can generate without fail, we have consistently left our clients in awe."
He also added that the challenge now would be to continue optimizing and scaling a process that spans exabytes of video, audio, language and text. The platform supports their vision to revolutionize world-wide content consumption on a massive scale and when people will realise the impact this would have on the masses, everyone will understand the challenge and the opportunity Deepdub represents