San Jose-based technology company Adobe has acquired Rephrase.ai, a Bengaluru-based startup specializing in AI-driven video creation technology, for an undisclosed sum.
The acquisition marks Adobe's first foray into generative AI (GenAI) and its initial venture into the Indian startup ecosystem.
Founded by IIT alumni Ashray Malhotra, Nisheeth Lahoti, and Shivam Mangla, Rephrase.ai has made a name for itself in the GenAI space.
The startup, established in 2018, has excelled in creating text-to-video generator tools, attracting over 50,000 users. Prior to the acquisition, Rephrase.ai had raised a total of $13.9 million in funding, with its largest round being $10.6 million in September of the previous year.
Adobe plans to integrate Rephrase.ai's technology stack and generative AI capabilities with its own video-editing platform, Creative Cloud.
The integration is expected to enhance Adobe's offerings, particularly in the realm of AI-powered video content tools. Additionally, The acquisition will also see the majority of Rephrase.ai’s team, including its founders, joining Adobe, thereby bolstering Adobe's expertise in this innovative field.
The acquisition is not just a milestone for Adobe but also a significant development for Rephrase.ai. The startup's team, which currently stands at about 45 employees, will mostly be absorbed into Adobe.
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