Oxolo, a platform for AI-Powered Text-to-Video, has secured €13 million in a series A investment. Numerous German angel investors, including Christian Vollmann, Johannes Plehn, Thomas Hagemann, Stefan Wiskemann, Alex Täubert, and Mischa Ruerup, also took part in this investment round, which is being headed by DN Capital.
The company intends to use the money for additional research and development, team growth, and the advancement of its commercialization initiatives.
Anyone may make automated films using its text-to-video software, including commercials, social media posts, and product videos with chatbot avatars powered by AI.
Users can quickly produce thousands of product videos using customised templates to increase sales, viewership, and search visibility. Videos will be improved in the future in reaction to user behaviour.
The business says that websites with videos have a 53 times higher probability of earning a coveted spot on Google’s main page. In addition, they claim that adding videos increases conversion rates for online shopping product pages by 80%.
A deep tech platform for creative AI-based media is being created by Oxolo. With the help of our technology, anyone can create automated videos, including those for social media, product videos, and ads.
By developing chatbot avatars powered by AI that are able to engage and converse, we are virtualizing particular persons. The most recent advancements in machine learning and artificial intelligence form the foundation of our whole technology stack.