Published on October 24, 2023, 8:58 pm
Generative AI is revolutionizing the way videos are created, and German startup Oxolo is at the forefront of this transformative technology. With the ability to automatically generate personalized videos based on plain text, Oxolo’s generative AI platform offers a novel solution for corporate training and product videos.
While AI-powered videos have gained attention for their ability to manipulate speech and create synthetic individuals, they have practical applications beyond mere gimmicks and disinformation campaigns. Market demand for these tools is on the rise, as evidenced by Synthesia’s recent $90 million funding round. Synthesia’s platform generates product videos from plain text and has raised a total of $156.6 million to date.
However, scaling video generation for millions of products can be challenging and time-consuming. This is where Oxolo comes in with its innovative approach. By leveraging generative AI, Oxolo enables companies to create customized videos effortlessly. For instance, if a company wants to conduct corporate training, it can use Oxolo to build a video tailored to different employee profiles based on factors such as management level, gender, or geography. These videos can then be tested using A/B testing techniques to identify high-performing versions automatically. If an employee loses interest in one video, it will be replaced with a better performing one on the fly.
The same principle applies to product videos. Companies can generate captivating content for their products without any manual labor involved. When using Oxolo, they simply need to provide a product link—for example, socks—paste it into the platform, hit generate, and voila! The entire product video is ready within seconds.
Elisabeth L’Orange, co-founder and CCO of Oxolo emphasized that unlike other platforms that require manual entry of text into pre-designed templates or avatars, Oxolo streamlines the process by automating everything. Users are spared from mundane tasks like thinking about how to create engaging content manually.
The innovative approach and potential of Oxolo’s generative AI technology have attracted significant investment. The startup recently closed a €13 million Series A funding round led by DN Capital, with the participation of prominent German angel investors.
Market Growth Reports estimate that the market size for video advertising content creation tools is projected to grow from $1.5 billion in 2023 to approximately $4.3 billion by 2030. With its generative AI platform, Oxolo is well-positioned to capitalize on this growth and become a leading player in the industry.
As the demand for personalized and engaging videos continues to surge, Oxolo’s innovative use of generative AI provides a game-changing solution for businesses across various sectors. By automating the video creation process and delivering high-quality content, Oxolo empowers companies to captivate their audience more effectively and achieve better results in their marketing efforts.