Papercup Technologies Secures £ 16.24m Series A Investment Led by Octopus Ventures – UK Technology Investment News

  • Papercup, the innovator of AI video dubbing, will invest funds in machine learning research, language expansion and further commercialization.
  • The total market for video and audio dubbing is estimated to be worth $ 100 billion

London, June 9Plastic cupA UK artificial intelligence start-up that is changing the dynamics of global video, today set an ambitious goal of bringing human emotion to AI dubbing services, as it receives a 20 million Series A round of investment. dollars.

This funding will help the London-based firm in its goal of making the world’s video content watchable in any language through emotional and realistic synthetic voices and AI dubbing, as it aims for a $ 100 billion future market.

Around the world, billions of hours of video content are trapped in a single language. Founded in 2017, Papercup created a system based on artificial intelligence and machine learning that translates people’s voices and ways of expression into other languages.

Customers upload their videos, choose a target language, and then receive a translated version with a synthetic voiceover, indistinguishable from human voices.

The technology has already been used by media giants Sky News, Discovery and Business Insider and has been used to translate 30 seasons of Bob Ross’ iconic show “The Joy of Painting”. More than 300 million people have watched Papercup’s translated videos in the past 12 months.

At the heart of Papercup’s unique technology is the creation of expressive synthetic voices, which are specifically suited for video. Rather than leveraging third-party generic AI voices intended for a wide range of uses such as chatbots and home assistants, Papercup has created their own catalog of voices that deliver realistic tones and emotions that are more engaging with viewers. This creates an enjoyable and authentic experience for viewers, complete with the subtlety and nuances of the original content.

Papercup’s emotional voices are complemented by its proprietary “human in the loop” system, whereby translators annotate content that is automatically transcribed, translated, and dubbed by the AI. By applying human experience at this stage, the quality of the video output is improved and Papercup collects the same data that Papercup can use to semi and fully automate the process.

The combination of artificial intelligence and the human level allows Papercup to offer a service that is radically different from that traditionally available in the dubbing industry, with costs reaching only 1/5 of standard dubbing studios and delivery times reduced to hours and days instead of weeks. and months.

Papercup’s proprietary technology will make dubbing accessible to all forms of video content for the first time, enabling the 6.5 billion non-English speaking people around the world to view the content. Extending their technology to all forms of video and audio content, including e-learning, business training, podcasts and audiobooks, will unlock a $ 100 billion voice acting opportunity that’s ready for interruption.

Jesse Shemen, CEO of Papercup, said: People retain up to 70% more information when watching dubbed videos in their native language. With truly exciting interlingual AI dubbing, we can tackle all forms of content, making video and audio more accessible and enjoyable for all. This funding will allow us to double our promising research and break it down into new content categories. “

Octopus Ventures leads the investment alongside Local Globe, Sands Capital, Sky and Guardian Media Ventures, Entrepreneur First, BDMI and a number of angelic investors, including Des Traynor, co-founder of Intercom, and John Collison, co-founder of Band.

Existing angel investors include William Tunstall-Pedoe, founder of Evi (now Amazon’s Alexa) and Zoubin Ghahramani, Senior Research Director of Google Brain and former Chief Scientist of Uber.

Zoe Reich, investor, commented on Octopus Ventures: “Spotify has 3.2 million podcasts. Youtube 500 hours of videos uploaded every minute. Discovery, 100,000 hours of documentaries. CNN 4 million video assets. The volume of consumer-produced video and audio is growing exponentially, yet only 1% is currently dubbed in multiple languages. Papercup’s use of AI to provide affordable, high-quality dubbing can unlock that content for audiences around the world, and in doing so, drive a 100-fold expansion in the video and audio translation market with Papercup on the front line “.

Chris Eng, principal, Sands Capital said: “In a world that has increasingly embraced online video over the past two years, Papercup’s solutions can make a dramatic impact, expanding reach and unlocking millions of hours of video content.

“Papercup can set the standard for high-quality video localization and demonstrate the immense value AI can bring to online and digital video.”

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About Papercup

Papercup was founded in 2017 by Jesse Sheman and Jiameng Gao with the goal of making every video in the world watchable in any language. Papercup, a pioneering artificial intelligence company, using state-of-the-art machine learning, has created a text-to-speech system that can translate people’s voices into other languages ​​with a delivery that is indistinguishable from human speech while retaining the characteristics of the voice. who’s talking about. Papercup enables global companies such as Sky News, Insider, Cinedigm, and Canva to reach an international audience eager to watch videos in their native language that they previously couldn’t access. The London-based startup has raised over $ 30.5 million in funding to date, with backers including media titan Sky (now owned by Comcast) and VC including Octopus Ventures, LocalGlobe, Sands Capital and Guardian Media Group Ventures.

List of investors and details

VC:

– LocalGlobe

– First Entrepreneur

– GMG Ventures

– BMI

– Sky United Kingdom

– Sands Capital

– Octopus Ventures – Protagonist for Serie A

Angels:

  • Des Traynor – Co-founder of Intercom
  • John Collisson, co-founder of Stripe
  • Zoubin Ghahramani – Senior Research Director at Google Brain – Ex-Chief Scientist at Uber
  • William Tunstall-Pedoe – founder of Eve Technologies, sold to Amazon and became Alexa

Consultants

– Simon King – world’s leading academic in speech synthesis, University of Edinburgh

– Mark Gales – world leading academic in speech processing, University of Cambridge

Papercup Technologies Secures £ 16.24m Series A Investment Led by Octopus Ventures – UK Technology Investment News

Source link Papercup Technologies Secures £ 16.24m Series A Investment Led by Octopus Ventures – UK Technology Investment News

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