VideoVerse, a SaaS startup specialising in video editing, has recently made an undisclosed acquisition of Optikka, an AI-powered design system. This strategic move aims to enhance VideoVerse's real-time content automation platform, Magnifi.ai, by expanding its media, design and publishing capabilities.
As part of the acquisition, VideoVerse has welcomed Charles Duncan, the founder and creative technologist of Optikka, along with creative strategist Nick Arciero to their team. Both executives have a wealth of experience in various Disney business divisions.
The driving force behind VideoVerse's acquisition is the integration of Optikka's advanced machine learning technology with Magnifi. This collaboration will empower customers to effortlessly transform a large volume of assets into fully designed, consumer-ready highlights and narrative packages.
Originally known as Toch.ai, VideoVerse was established in 2016 by Vinayak Shrivastav, Saket Dandotia and Alok Patil. The company initially focused on generating instant key moments and auto short-sized clips using computer vision and AI capabilities. Today, VideoVerse serves clients in OTT, broadcasting, sports, marketing agencies, and e-gaming industries.
Optikka, founded by Charles Duncan, was initially developed to create images for the visually impaired. The platform has evolved into an AI-assisted design solution leveraging creative coding and generative art. Optikka's expertise spans across video, broadcast, XR and metaverse platforms. The company provides IP owners with the ability to quickly distribute and monetise cultural events, ranging from news to entertainment and sports content.
This acquisition marks the second notable purchase by VideoVerse this year, following its acquisition of US-based content generation startup, Reely.ai.
VideoVerse's recent acquisitions come on the heels of securing USD 46.8 million in funding from investors including A91 Partners, Alpha Wave Global, and Flipkart co-founder Binny Bansal.
The content sector has witnessed a surge in activity among startups. Pep, for instance, recently raised USD 2.5 million in seed funding from India Quotient, a prominent venture capital firm. Additionally, digital content startup Knocksense received funding from singer Lucky Ali to accelerate its expansion plans and connect with diverse communities across India.