In a series A financing round, the Hamburg-based startup Oxolo has secured a total of 13 million euros. Participants include venture capital firm DN Capital and business angels Christian Vollmann, Johannes Plehn, Thomas Hagemann, Stefan Wiskemann, Alex Täubert and Mischa Ruerup. Oxolo uses artificial intelligence (AI) to create video content.
Oxolo is successful worldwide already
The startup was founded in 2020 by Elisabeth L'Orange, formerly with VC firm Neuhaus Partners, and serial founder Heiko Hubertz (computer game provider Bigpoint, among others). Oxolo specialises in generative AI solutions for a text-to-video application with a variety of uses. For example, automated videos can be created for advertising, e-commerce, e-learning and e-health. The company now has a team of around 50 and over 100,000 users from nearly 80 countries, including companies such as Deloitte and Rothschild.
With the capital from the recently closed financing round, Oxolo will push ahead with research and development and hire additional staff to accelerate the marketing of the AI solution. Among other things, this is able to analyse the success of a video and take the results into account in the production of the next video. Real-life avatars that act as moderators play an important role in this.
