Aug X Labs has raised $3.1 million to democratize video creation by way of AI applied sciences.

The funds for the oversubscribed funding spherical shall be utilized to increase the group, additional develop core applied sciences, and improve buyer acquisition efforts for its flagship product, Augie, because it prepares to exit beta later this 12 months.

Unlock Enterprise Companions led the funding spherical, with participation from distinguished traders together with Dropbox Ventures, Flying Fish Ventures, and Hyde Park Enterprise Companions. New traders reminiscent of Zenture VP, Magnesium Studio, Shae Hong (CEO of Made by Collect), and Eric Ries (Writer of The Lean Startup) additionally joined the spherical. Aug X Labs additionally obtained funding from the Carnegie Mellon Swartz Heart for Entrepreneurship’s VentureBridge program.

“Augie isn’t only a groundbreaking product; it’s the results of a group with a singular imaginative and prescient for the way know-how can democratize video creation and storytelling,” mentioned Andy Liu, Managing Companion at Unlock Enterprise Companions, in a press release.

Dropbox Ventures, one other participant within the funding spherical, acknowledged Aug X Labs’ potential to grow to be a pacesetter within the AI-driven video creation area. Donald Tucker, head of company growth and ventures at Dropbox, praised Augie as an easy-to-use AI-powered video instrument that addresses the challenges confronted by prospects.

Augie, the corporate’s core product, is an AI-assisted video creator designed to democratize entry to video advertising. By analyzing content material reminiscent of prompts, scripts, narrations, or recordings, Augie transforms phrases into movies. The platform additionally incorporates high-quality, commercially licensed inventory video footage to boost user-generated content material. Augie may be accessed by way of any browser, with a devoted cellular expertise set to be launched quickly.

Augie’s content-matching system leverages AI applied sciences reminiscent of pc imaginative and prescient, metadata, GPT, and NLP to robotically derive context from photographs and clips. The platform additionally integrates AI Voices and Voice Cloning from ElevenLabs, in addition to artificial and generative media from Replicate.AI, together with different superior applied sciences from main AI suppliers together with AWS, OpenAI, and Hugging Face.

“We’ve realized a lot since launching Augie into open beta and in that point have taken monumental steps ahead in each the facility and capabilities of our generative AI video creation platform, giving companies a simple and efficient technique to promote themselves and attain new audiences,” mentioned Jeremy Toeman, founder and CEO of Aug X Labs, in a press release. “This funding spherical empowers us to increase the group and product to satisfy the calls for of our present and future customers. We’ve seen large curiosity in Augie, with double-digit development since our beta launch, and our energy customers create a median of 37 Augies per thirty days.”