Adobe Acquires Indian AI Video Creation Platform Rephrase.ai
U.S.-based technology giant Adobe has made its first generative AI acquisition of an Indian startup, Rephrase.ai, a Bengaluru-based AI-driven video creation company. According to reports from Economic Times, Adobe aims to integrate Rephrase’s technology stack and generative AI video capabilities into its proprietary video-editing platform, Creative Cloud. This move is expected to enhance Adobe’s offerings in the video creation space. The exact value of the deal remains undisclosed. https://twitter.com/_shivammangla/status/1727299136238837924?s=12 As part of the acquisition, Adobe will integrate the majority of Rephrase.ai’s workforce. The founders of Rephrase.ai will also collaborate closely with the software company moving forward. Currently, Rephrase.ai has a team consisting of approximately 45 employees. As a result of the acquisition, Rephrase’s investors are expected to achieve a full cash exit, with the founders receiving compensation in both cash and Adobe stock, ET report added. “The Rephrase.ai team’s expertise in generative AI video and audio technology and experience-building text-to-video generator tools will extend our generative video capabilities — and enable us to deliver more value to our customers faster — all within our industry-leading creative applications,” Ashley Still, senior vice president and general manager, Creative Cloud, wrote in an internal memo to employees. “A huge shoutout to our team – our technology teams for pushing the frontiers of AI, and our business teams for writing a playbook to sell GenerativeAI in India. Your dedication and hard work have been everything to us, and the company. This is your success, and nobody else’s,” Shivam Mangla, co-founder at Rephrase.ai said on X. Founded by Ashray Malhotra, Nisheeth Lahoti, and Shivam Mangla, the startup has garnered a total funding of $13.9 million to date. In September of the previous year, it secured $10.6 million in a funding round led by Red Ventures. Additional supporters of the startup encompass Lightspeed India, Silver Lake, 8VC, and Techstars.
The exact value of the deal remains undisclosed
U.S.-based technology giant Adobe has made its first generative AI acquisition of an Indian startup, Rephrase.ai
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Siddharth is a media graduate who loves to explore tech through journalism and putting forward ideas worth pondering about in the era of artificial intelligence.