TrueFan AI Secures $10 million in Series A Round

The funding round valued the company at $40 million after the investment was completed.

TrueFan AI said it will use the new funding to improve its AI infrastructure and expand its services for enterprise customers. The goal is to grow its technology, support more businesses, and increase its market reach.

TrueFan AI co-founder and CEO Nimish Goel said that AI-generated videos can be useful for many business activities. According to him, companies are already using these videos for business communication, translating content into different languages, and creating advertising and marketing campaigns.

“The infrastructure for large-scale enterprise video communication simply hasn’t existed until recently. Budgets existed, intent existed, but production constraints prevented video from becoming a default enterprise channel,” said Arul Mehra, Partner at Baring Private Equity Partners India.

“What gave us confidence in TrueFan AI was the feedback we heard consistently from enterprise customers. The platform is already deeply embedded in the workflows of some of India’s largest enterprises, which reflects both the strength of the product and the scale of the shift underway in enterprise video communication,” Mehra added.

Founded in 2020 by Nimish Goel and Devender Bindal, TrueFan AI, based in Gurugram, works with more than 100 enterprise customers, including HDFC Bank, Bajaj Finance, Zomato, Cipla, and BharatPe. The platform helps businesses create personalized AI-generated videos at a large scale using celebrity avatars, company leaders, and brand representatives.

The startup says its technology can generate up to 500,000 videos per minute in more than 175 languages. Companies use these videos for digital marketing, social media promotions, advertising campaigns, employee training, and learning and development programs.

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