Moonvalley, a Los Angeles-based startup, has been focused on developing artificial intelligence-based tools for video production. Most recently, they closed on a strong $53 million round of new capital, according to their most recent filing with the Securities and Exchange Commission (SEC). The current funding round adds an additional $10 million to that total. This quarter’s investment follows the closing of a round $43 million just a month prior. With this new round of capital, Moonvalley’s total funding has now ballooned to a staggering $124 million, according to Pitchbook estimates.
Once established by Naeem Talukdar, Mateusz Malinowski, and Mik Binkowski, Moonvalley seeks to change the horizon of AI-powered video creation. Talukdar, former head of product growth at Zapier, joined forces with Malinowski and Binkowski. The two, former scientists at Google-owned AI firm DeepMind, are now developing a platform uniquely tailored for filmmakers and creative professionals. The startup recently hired John Thomas as its Chief Operating Officer (COO), who co-founded yet another Talukdar-launched venture, Draft, with the latter.
It’s this kind of innovative, user-centric approach to AI video creation that’s been seen in industry mainstays like Bria and Adobe. Adobe, for instance, obtains content to train its AI models via its in-house Adobe Stock marketplace. Through utilizing these same strategies, Moonvalley is in the process of creating ethical video models that protect content creators’ rights.
The burgeoning development of AI technology in the creative sector has many worried about job displacement. The Animation Guild, IATSE Local 839, commissioned the study, which forecasts dire job disruptions to the U.S. film, television, and animation industries. By 2026, over 100,000 jobs may be at risk due to AI technologies. This impending change makes the stakes higher for ethical AI development.
In view of this news, Moonvalley couldn’t be prouder of its technology and the role it plays in supporting creative pros.
“We founded Moonvalley to make generative video technology that works for filmmakers and creative professionals,” – Moonvalley
The startup’s recent funding will enable it to further refine its tools and expand its offerings in the competitive AI landscape. Moonvalley’s dedication to ethical practices runs deep. By putting the needs of content creators first, it seeks to be the industry’s standard bearer.
Moonvalley has raised around $53 million funding from a consortium of 14 unnamed investors. Together, this investment now has the company primed for explosive growth. Indeed, last November, the company did raise an impressive $70 million in its seed round. Its success made it the most well-known player in the booming AI tech market for video creation.
On the ground, Moonvalley is working with many communities to create new and better tools and solutions. They’re dedicated to meeting the challenges posed by the breakneck pace of technological change while continuing to protect and promote the interests of filmmakers and other creative professionals.
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