Oxolo, a Hamburg, Germany-based startup providing generative AI solutions for text-to-video applications, raised €13M in Series A funding.
The round was led by DN Capital with participation from Christian Vollmann, Johannes Plehn, Thomas Hagemann, Stefan Wiskemann, Alex Täubert, and Mischa Ruerup.
The company intends to use the funds to advance its research and development efforts, expand its team, and expedite the commercialization of their AI solutions.
Led by Heiko Hubertz, CEO, and CCO Elisabeth L’Orange, Oxolo is a startup specializing in generative AI solutions for text-to-video applications across a wide spectrum of use cases. This facilitates the automated generation of videos for advertising, e-commerce, e-learning, e-health, and more. Established in 2020, the company now boasts a team of around 50 members and has attracted over half a million customers from over 75 countries, including firms like Deloitte and Rothschild.
FinSMEs
24/10/2023