Nonetheless, most companies choose not to recruit video companies to record the needed content. It has become the privilege of the more developed businesses, with a bigger budget and more time. Nonetheless, a recent graduate of the Starta Ventures batch, a company called NeuraLoom, offers an AI-powered solution to the problem and is making impressive leaps in the new fast-growing industry. In the interview with Rusbase, NeuraLoom co-founders Anton Nikonorov and Serhii Hryhorash explained their product as a neural network that makes full-fledged videos with voice, facial expressions, gestures, and special effects, for order. They reduce the wasted time and money used for the production of commercials hundreds, possibly thousands of times by offering artificial, yet organic-looking videos that are fully customizable.
At the beginning of Fall 2020, the NeuraLoom team began working on the product and had its MVP ready by October, and with that, joined the Starta Ventures acceleration program in New York City. In the Rusbase interview, Serhii says, "By the time the MVP was ready, we ourselves had invested more than $300,000 in training our neural network, which included our own funds and grants from Microsoft and Amazon. We pulled up different contacts from our past projects and in the fall made the first agreements on tests with American corporations."
At the moment, the company has over 50 pilot-product deals with American, Russian, Australian, and Arab companies, which includes giants such as Microsoft, Amazon, SAP, Samsung, and many others.
"We would like to give people the opportunity to generate video content with minimal investment and without technical knowledge and special equipment - only using a laptop or smartphone,"
Says Serhii in his interview with Rusbase. In August, before completing the Starta acceleration program in New York, NeuraLoom was evaluated at $3 million, and after getting a few investments from venture funds, the company is now worth close to $7 million (February) and is steadily growing.
Starta Ventures is glad to see one of our graduates hop on the expanding development and application of AI-powered tools, and lead the new industry.