Deep Render, a London, UK-based machine learning startup focused on shrinking video sizes, raised $9M in funding.
The round consists of a $6.3M Series A round, led by IP Group and Pentech Ventures, plus a competitive grant from the European Innovation Council of $2.7M.
The company intends to use the funds to double its team, accelerate commercial engagement, accelerate its expansion to the US and patent plans, and further roll out the technology
Led by CEO Chri Besenbruch and CTO Arsalan Zafar, Deep Render has built a video compression algorithm that shrinks video sizes without sacrificing relative streaming quality. Its technology has been built to harness and scale with the AI hardware that’s already in use in 100s of millions of devices. Hardware including Apple’s Neural Engine (ANE), Qualcomm, Samsung and MediaTek’s Neural Processing Units (NPUs) and more.
For instance, the benefits of the company’s AI-powered technology apply to any media content application worldwide: from video-on-demand, live streaming, and video chat; to the metaverse, AR, VR and cloud gaming offerings. More niche use cases include satellite imaging, the CCTV market, remote drone flying, and national defence forces.
FinSMEs
29/03/2023