TEL AVIV, Israel, March 22, 2022 /PRNewswire/ -- D-ID, the world leader in AI-driven creative media, announced today a $25 million Series B round, led by investment firm Macquarie Capital, with significant investments from Pitango, AXA Venture Partners, OurCrowd, OIF, Maverick and Marubeni. This new infusion brings D-ID's total funding to $48 million.
The proceeds from this round, from investors across three continents, will allow D-ID to double the number of experts on its world-class deep-learning and computer vision teams, broadening the scope and reach of its pioneering technology as it continues to produce products that transform the digital-human interface. The round will also enable D-ID to expand and support the company's sales and marketing teams in the United States, APAC and EMEA.
The Digital Human and Metaverse market is set to grow more than tenfold in the coming decade, and D-ID is rapidly engaging new clients in the fields of e-learning, corporate training, marketing communications, AI assistants, history and heritage.
D-ID uses AI and deep learning to develop reenactment-based products ranging from animating still photos to developing high-quality digital avatars. D-ID's wide range of customers include Warner Bros. Studios, Mondelez, Publicis and MyHeritage, whom D-ID partnered with to create the viral sensation Deep Nostalgia, which has created nearly 100M animations since its launch, and more recently, LiveStory, which enables the creation of AI-generated biographical videos narrated by photos of users' ancestors. D-ID has also partnered with The Glimpse Group (NASDAQ: VRAR), a diversified virtual reality and augmented reality platform, to develop AI, AR and VR applications for the Metaverse. D-ID is leading the charge to leverage Synthetic Media for good. The company has worked with nonprofit organizations and governments in public awareness campaigns on sensitive issues such as domestic violence and HIV awareness.
This new round of funding comes on the heels of a whirlwind of success for D-ID. In early March, the company was named by Fast Company as one of the Most Innovative Companies of 2022 in EMEA. In February, D-ID won best use of AI in the Digiday Marketing and Advertising Awards Europe, and in January, the company's proprietary Live Portrait technology was named a finalist for the prestigious SXSW Innovation Award.
"Over the past year we have witnessed the skyrocketing success of our technology across so many applications and industries, with the power to generate so much good," said Gil Perry, CEO and Co-Founder of D-ID. "We are incredibly grateful for this new round of funding and strong partnership with Macquarie, which will enable us to scale up our business and our technology to the next level. We're excited for what the future holds."
"Our purpose is about empowering people to innovate and invest for a better future. D-ID helps us imagine that future," said David Standen, Global Co-Head of Macquarie Capital Venture Capital Group. "We're delighted to gain exposure to this rapidly growing sector. This technology offers so many uses across such a wide variety of industries. They're true pioneers in a pioneering market. We know this is just the beginning for D-ID and Macquarie."
D-ID is a Tel Aviv-based Creative Reality™ startup specializing in patented video reenactment technology using AI and deep learning. D-ID's products range from animating still photos, to facilitating high-quality video productions, and creating viral user experiences. With funding from tier 1 VCs, D-ID aims to radically disrupt the time, hassle and costs involved in video production, allowing for the creation of highly personalized media using AI, specifically in e-learning, corporate training, marcomms, AI assistants, history and the Metaverse. With international customers, D-ID's core competencies in the human face and deep learning enable its partners to create exciting and engaging content that was until now unimaginable. To find out more, visit www.d-id.com.
Senior Associate, Si14 Global Communications