Latest news with #Gen-2
The Star
15-05-2025
- Business
- The Star
AI video generator startup Hedra raises $32 million in Andreessen Horowitz-led round
A message reading "AI artificial intelligence", a keyboard, and robot hands are seen in this illustration taken January 27, 2025. REUTERS/Dado Ruvic/Illustration (Reuters) -Hedra, an AI startup that helps businesses generate lifelike videos, said it has raised $32 million in a funding round led by Andreessen Horowitz's Infrastructure fund to expand operations and deepen its reach among marketers. The Series A fundraise valued the company at $200 million, according to a source involved in the deal. The round brings its total raised funds to $43 million, Hedra said on Thursday. The AI video space has boomed in the past year, with ChatGPT-maker OpenAI's Sora and Runway's Gen-2 among the models racing to dominate the nascent industry. However, doubts remain over their scalability due to high computing costs and their ability to avoid the "uncanny valley", where near-realistic digital characters trigger discomfort in some viewers. Founded in 2021, Hedra is hoping to stand out with its Character-3 foundation model that blends text, image and audio to create lifelike digital characters. Businesses can use the technology to create animated mascots or professional spokespersons for their brands. "Getting over the uncanny valley of compelling performance is the hardest frontier in video, and with our Character-3 foundation model, we're devoted to crossing it," said founder and CEO Michael Lingelbach, a former stage actor. Hedra currently employs 20 people and plans to triple its workforce to support its growing operations. The round also saw participation from existing investors, including a16z speedrun, Abstract and Index Ventures. (Reporting by Kritika Lamba in Bengaluru; Editing by Vijay Kishore)
Yahoo
15-05-2025
- Business
- Yahoo
AI video generator startup Hedra raises $32 million in Andreessen Horowitz-led round
(Reuters) -Hedra, an AI startup that helps businesses generate lifelike videos, said it has raised $32 million in a funding round led by Andreessen Horowitz's Infrastructure fund to expand operations and deepen its reach among marketers. The Series A fundraise valued the company at $200 million, according to a source involved in the deal. The round brings its total raised funds to $43 million, Hedra said on Thursday. The AI video space has boomed in the past year, with ChatGPT-maker OpenAI's Sora and Runway's Gen-2 among the models racing to dominate the nascent industry. However, doubts remain over their scalability due to high computing costs and their ability to avoid the "uncanny valley", where near-realistic digital characters trigger discomfort in some viewers. Founded in 2021, Hedra is hoping to stand out with its Character-3 foundation model that blends text, image and audio to create lifelike digital characters. Businesses can use the technology to create animated mascots or professional spokespersons for their brands. "Getting over the uncanny valley of compelling performance is the hardest frontier in video, and with our Character-3 foundation model, we're devoted to crossing it," said founder and CEO Michael Lingelbach, a former stage actor. Hedra currently employs 20 people and plans to triple its workforce to support its growing operations. The round also saw participation from existing investors, including a16z speedrun, Abstract and Index Ventures. Sign in to access your portfolio
Yahoo
15-05-2025
- Business
- Yahoo
AI video generator startup Hedra raises $32 million in Andreessen Horowitz-led round
(Reuters) -Hedra, an AI startup that helps businesses generate lifelike videos, said it has raised $32 million in a funding round led by Andreessen Horowitz's Infrastructure fund to expand operations and deepen its reach among marketers. The Series A fundraise valued the company at $200 million, according to a source involved in the deal. The round brings its total raised funds to $43 million, Hedra said on Thursday. The AI video space has boomed in the past year, with ChatGPT-maker OpenAI's Sora and Runway's Gen-2 among the models racing to dominate the nascent industry. However, doubts remain over their scalability due to high computing costs and their ability to avoid the "uncanny valley", where near-realistic digital characters trigger discomfort in some viewers. Founded in 2021, Hedra is hoping to stand out with its Character-3 foundation model that blends text, image and audio to create lifelike digital characters. Businesses can use the technology to create animated mascots or professional spokespersons for their brands. "Getting over the uncanny valley of compelling performance is the hardest frontier in video, and with our Character-3 foundation model, we're devoted to crossing it," said founder and CEO Michael Lingelbach, a former stage actor. Hedra currently employs 20 people and plans to triple its workforce to support its growing operations. The round also saw participation from existing investors, including a16z speedrun, Abstract and Index Ventures. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
15-05-2025
- Business
- Reuters
AI video generator startup Hedra raises $32 million in Andreessen Horowitz-led round
May 15 (Reuters) - Hedra, an AI startup that helps businesses generate lifelike videos, said it has raised $32 million in a funding round led by Andreessen Horowitz's Infrastructure fund to expand operations and deepen its reach among marketers. The Series A fundraise valued the company at $200 million, according to a source involved in the deal. The round brings its total raised funds to $43 million, Hedra said on Thursday. The AI video space has boomed in the past year, with ChatGPT-maker OpenAI's Sora and Runway's Gen-2 among the models racing to dominate the nascent industry. However, doubts remain over their scalability due to high computing costs and their ability to avoid the "uncanny valley", where near-realistic digital characters trigger discomfort in some viewers. Founded in 2021, Hedra is hoping to stand out with its Character-3 foundation model that blends text, image and audio to create lifelike digital characters. Businesses can use the technology to create animated mascots or professional spokespersons for their brands. "Getting over the uncanny valley of compelling performance is the hardest frontier in video, and with our Character-3 foundation model, we're devoted to crossing it," said founder and CEO Michael Lingelbach, a former stage actor. Hedra currently employs 20 people and plans to triple its workforce to support its growing operations. The round also saw participation from existing investors, including a16z speedrun, Abstract and Index Ventures.
TimesLIVE
07-05-2025
- Automotive
- TimesLIVE
Proton says it is not quitting SA
Proton SA denies it is exiting the local market, despite recent media speculation. Sammy Ranjeeth, Proton SA's PR manager, said reference made by Combined Motor Holdings CEO Jebb McIntosh during a recent results presentation was in relation to stock liquidation of ageing inventory in a difficult and competitive market. 'This was a standard industry practice to prepare for the arrival of exciting new models,' said Ranjeeth. Proton, founded in 1983, previously imported models including the Gen-2, Satria Neo, Saga, Savvy, Persona and Arena bakkie to SA, but quit the country in 2012. It made its comeback in 2022, teaming up with CMH to import and market the Malaysian brand. The brand returned under new ownership after being purchased in 2017 by Chinese automaker Geely, which also owns Volvo and Lotus, and is a significant shareholder of Mercedes-Benz. With 'affordable luxury' as its catch phrase, Proton initially launched two SUV ranges - the X50 and X70 - and proclaimed they were being aimed not at Chinese rivals such as GWM and Chery but at legacy brands such as Volkswagen, Mazda and BMW. It later bolstered its line-up with the X90 seven-seater SUV and the Saga entry-level sedan. However, Proton's sales have failed to make a dent against a proliferation of more price competitive Chinese and Indian brands. Proton sold only 66 cars last month compared to GWM (1,943), Chery (1,852) and Mahindra (1,278). Last week BusinessLIVE reported McIntosh said the partnership with Proton had been 'challenging' and the parties were reassessing their options. 'The Proton import and distribution operation has continued to be challenging and costly. Current inventory will be sold during the first half of the coming year, and thereafter the group and the Malaysian manufacturer will decide on the way forward,' McIntosh said in his letter to shareholders published in the group's annual report. The company, which has 43 retail motor dealerships representing 29 brands sold through operations in Gauteng, KwaZulu-Natal and Western Cape, said imports, particularly from China and India, had made the market very challenging to compete in. Ranjeeth this week said Proton has no plans to leave and is reaffirming its long-term commitment to the local market. 'Proton is strengthening its home market presence by preparing to launch new-generation vehicles, including compact sedans, hatchbacks and competitive B-segment SUVs with internal combustion and hybrid powertrains,' Ranjeeth said. Every Proton X-Series model in SA is backed by a five-year unlimited kilometre warranty, with 24/7 nationwide roadside assistance throughout the full warranty period, she said.
