AI startup Synthesia is in talks with the Accel Foundation for a deal that could value it at about $1 billion.

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09:57 | 28 April 2023

AI startup Synthesia is in talks with the Accel Foundation for a deal that could value it at about $1 billion.

The London-based company, founded in 2017, allows users to create professional videos with a virtual avatar of text in 120 different languages in less than 15 minutes. Users can enter text and record their own voice, which are then used to create synthetic video content that can be manipulated to create realistic virtual presenters with authentic voices.

Negotiations are currently underway with the U.S. venture capital giant Accel to raise investment. The deal is not yet closed, so details and figures have not yet been determined.

Synthesia previously raised $50 million in Series B funding in December 2021, led by Kleiner Perkins and with participation from GV. Dealroom estimated that deal valued the company at $191 million to $286 million, meaning that potential new funding could quadruple Synthesia’s valuation.

Synthesia’s high quality AI video has raised fears of deep fakes and tampering. The startup gained notoriety when former soccer player David Beckham was animated and spoke in nine different languages for a public health campaign called “Malaria Must Die” in 2021.

Naturally, such a product could be used to spread misinformation or create dangerous content. Because of this, the company has previously insisted that the technology is available only through its platform, which it can control, and Synthesia has stated that it will not be available for public use.

We hope you found the information useful. Stay tuned for more information.

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