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    • InVideo, Backed by Tiger Global, Launches AI-Driven Video Creation
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    InVideo, Backed by Tiger Global, Launches AI-Driven Video Creation

    Umito Posted on

    Indian video editing platform InVideo launches an AI-powered generative video creation feature that lets you use prompts to generate video clips.

    The platform, backed by Tiger Global and Peak XV, calls this version InVideo v3.0. You can use text prompts to generate a video in different styles, including live, animated, or anime-style, and export the resulting video in formats suitable for YouTube, Shorts/Reels, and Linkedin. Users can also edit these videos by requesting changes or additions to specific parts of a clip.

    Image credits: Screenshot by TechCrunch

    InVideo has not developed its own model to power this functionality. Instead, it uses a pipeline of different models to parse prompts and generate videos.

    Sanket Shah, co-founder and CEO of InVideo, told TechCrunch that in theory there is no upper limit on the length of these generated videos, but users will be limited to the number of generation credits which they have. There doesn’t appear to be a free tier.

    To pay the bills for this new feature, the company is adding a new paid plan called the Generative Plan, which lets you generate 15 minutes of video for $120 per month. Users can purchase additional minutes for $8 to $10 per minute on any plan, the company said.

    Last year, the app released a prompt-based video generation feature that didn’t allow you to create videos from scratch, but just patched together stock footage and licensed photos into a video , which seemed a bit crude.

    Although the new tool can generate videos lasting several minutes, if you check out the videos on the company websiteYou will notice that the style and quality of the video changes in the middle of the video, which doesn’t look right. The startup said it will improve the tool’s generation capability over time.

    The company is entering a space where other video editors, such as Legends, DID And Light roundshave introduced AI-based video generation for different market segments.

    Image credits: InVideo

    Shah said that compared to other video editing tools, InVideo has a simpler interface for creating AI-generated videos. While some competitors target filmmakers, advertising agencies, and sales and marketing teams, InVideo wants to target individuals, creators, and small businesses.

    He noted that the company currently has 4 million monthly active users and that the tool has generated 7 million videos in the last 30 days.

    InVideo’s logic for using AI to generate videos is similar to its competitors. Anyone can use their phone to capture images and use editing software to create a video. But video editing apps adopting AI features want users to imagine more complete videos and possibly spend more money on generative AI features.

    The company raised its latest round of $35 million from companies like Greenoaks, Tiger Global, and PeakXV in 2021. Shah mentioned that the startup still has $25 million in the bank and is “burning virtually no money.” money “.

    “I think InVideo v3.0 is a big, bold step toward our goal. We have a lot of investor interest, but we will look to partner with the right partner over the coming quarters,” he told TechCrunch.

    Shah added that the company was on track to record $50 million in revenue this year.

    Umito
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