Jared Leto Backs AI Revolution with $60M in Generative Video Startup Captions!

  • Editor
  • July 10, 2024
    Updated
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Key Takeaways:

  • Jared Leto and Index Ventures led a $60 million Series C funding round for Captions.
  • Captions is valued at $500 million and was founded by former Microsoft engineer Gaurav Misra.
  • The funding round includes Kleiner Perkins, Sequoia Capital, Andreessen Horowitz, Adobe Ventures, and HubSpot Ventures.
  • Captions offer AI-driven tools for video creation, including avatars, editing, and dubbing.
  • The platform supports multiple languages and has over 10 million downloads.
  • Funds will expand the machine learning team in New York and advance generative video research.
  • High-profile users include ESPN, Kevin O’Leary, and Justin Kan.
  • Captions plan to invest $100 million in further research to lead the AI video market.

In a notable development within the generative artificial Intelligence(AI) sector, Hollywood actor and musician Jared Leto has teamed up with Index Ventures to lead a $60 million Series C funding round for Captions, a startup focused on AI-driven video creation.

This funding round values Captions at $500 million and includes participation from several prominent venture capital firms such as Kleiner Perkins, Sequoia Capital, Andreessen Horowitz, Adobe Ventures, and HubSpot Ventures.

Founded in 2021 by former Microsoft engineer Gaurav Misra, Captions has developed from a camera app into a sophisticated AI-powered suite to revolutionise video creation.


The company’s tools enable users to easily produce studio-quality videos, leveraging AI for tasks such as avatars, editing, captioning, dubbing, and audio correction.

Captions offer features that allow users to input text that can be spoken by photorealistic AI avatars or to generate scripts from suggested topics.

The platform supports multiple languages, enhancing its accessibility and user base. The company’s mobile app has achieved over 10 million downloads, reflecting its rapid growth and acceptance.


The potential of generative AI in video creation is significant, with various startups and established players exploring this technology.

Captions distinguishes itself by focusing on videos where individuals speak directly to the camera, incorporating tools like AI Edit and Lipdub to streamline video editing and ensure natural lip synchronization. This focus on direct-to-camera video content positions Captions uniquely in the market.

The $60 million funding will be utilized to expand Captions’ machine learning team in New York and to further invest in generative video research.


CEO Gaurav Misra has emphasized the company’s mission to democratize video creation, enabling broader access to high-quality video production tools.

This aligns with Index Ventures partner Damir Becirovic’s view that Captions is lowering barriers to storytelling, potentially sparking a new wave of creativity.

Captions have attracted several high-profile users, including ESPN (owned by Disney), Shark Tank’s Kevin O’Leary, Twitch founder Justin Kan, and the influencer Unnecessary Inventions.


With its expanding range of features, Captions is positioning itself as a leading platform for avatar-based video production, competing strongly in the growing AI video market.

Strategic Investments and Long-Term Vision

As Captions advances its capabilities, the company plans to invest an additional $100 million into generative video research in New York City.

This investment aims to enhance its position as a leader in the AI video space, providing valuable tools for businesses engaged in social media management, advertising, and content marketing.


The involvement of Jared Leto and other prominent investors is expected to support Captions’ vision of transforming video creation and sharing.

This development marks a significant step in integrating AI with creative industries, potentially reshaping the landscape of video production and digital storytelling.

For more news and insights, visit AI News on our website.

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Dave Andre

Editor

Digital marketing enthusiast by day, nature wanderer by dusk. Dave Andre blends two decades of AI and SaaS expertise into impactful strategies for SMEs. His weekends? Lost in books on tech trends and rejuvenating on scenic trails.

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