Wisecut raises funding from Tim Draper to increase its AI-driven video modifying platform

Wisecut, an AI-powered computerized video modifying platform, has introduced the profitable completion of an funding spherical from esteemed Silicon Valley investor Tim Draper, who made an impromptu pledge of $1 million to the corporate.

Founders Ivo and Vicente Machado met with Tim Draper throughout breakfast and satisfied him to pledge his help. Draper signed the funding dedication on a serviette, sealing the deal.

With this newest funding, Wisecut plans to increase its platform by implementing generative AI to “summarize” audiovisual content material autonomously. The corporate mentioned it is going to incorporate OpenAI’s GPT-4 expertise to create thematic snippets from prolonged movies.

“We’re integrating generative AI on our platform in order that Wisecut can analyze a one-hour video clip and condense it to only 1 minute of essentially the most insightful content material,” Ivo Machado, CEO and cofounder of Wisecut mentioned in an interview with VentureBeat. “Upon receiving an preliminary immediate from the person, it is going to robotically phase the content material into specialised brief clips and supply options for titles, descriptions and extra.”

Supporting R&D, increasing market attain

Wisecut introduced that the gen AI improve might be made accessible quickly. Machado acknowledged that the newly secured $1 million funding might be allotted in the direction of increasing the crew, advancing analysis and improvement efforts, launching further options and increasing its market attain.

The corporate goals to streamline video modifying by way of gen AI for companies utilizing video for advertising and marketing functions. It additionally intends to help instructional establishments transitioning to on-line lessons and video content material creators in producing extra participating and concise video content material.

“It’s a game-changer for video streamers!”, Tim Draper, investor and founding father of Draper Associates, mentioned in a written assertion. “Wisecut’s AI-powered video modifying can prevent hours, producing a remaining model even higher than for those who did it your self. I imagine the platform has immense potential to revolutionize the media toolbox for companies and people alike.”

Leveraging generative AI to streamline video modifying 

Wisecut mentioned the upcoming platform improve will leverage gen AI algorithms to achieve context from the supply video, transcribe audio content material and carry out semantic evaluation to higher perceive the meant which means.

The corporate can be engaged on an emotion-recognition expertise to decode the speaker’s feelings by way of facial expressions and physique language. By correlating these insights, Wisecut goals to establish impactful segments utilizing AI fashions GPT-4 and a fine-tuned Whisper, streamlining the video modifying course of.

Moreover, Wisecut’s proprietary AI mannequin actively tracks audio system within the video, makes modifying choices and optimizes visible composition to offer a sophisticated viewer expertise. The corporate additionally revealed that the platform will now generate optimized titles and descriptions for YouTube and social media, leveraging semantic evaluation and emotional understanding.

“Wisecut stands out from its rivals resulting from its intuitive and AI-driven auto lower function, deciding the place to chop [and] what to take away whereas retaining the cuts clear and easy,” Machado instructed VentureBeat. “We discovered that our options comparable to good background music with audio ducking and the automated punch-in digicam impact, coupled with the platform’s user-friendly AI interface, have resonated properly with content material creators whereas saving them modifying problem.”

Bettering algorithms, recruiting AI expertise

Machado acknowledged {that a} portion of the funding will go in the direction of bettering the underlying AI algorithms and machine studying (ML) fashions that empower Wisecut’s video modifying capabilities. The corporate plans to recruit skilled AI researchers and information scientists to refine current fashions, improve accuracy and introduce new gen AI options.

He added that the most recent funding may even help firm initiatives and partnerships to create consciousness in regards to the platform’s capabilities and appeal to new customers.

Wisecut asserts that it at present has 350,000 registered customers and experiences a month-to-month inflow of over 50,000 new customers, with a staggering 500% development recorded in January 2023.