Colossyan, a creator of AI video for workplace learning, recently announced that it has raised $22 million (£17 million) in its Series A funding round led by Lakestar, with participation from Launchub, Day One Capital, and Emerge Education. With the funding, the company plans to hire significantly in North American sales, client support, and R&D.
Founded by Dominik Kovacs, Colossyan aims to help creators by building technologies that can eliminate manual work, give humans extra abilities, and ultimately help billions of people around the globe to learn and be informed. The platform has pioneered features for training video creation, such as side-view avatars, real-time video generation, and the ability to produce multiple videos simultaneously.
Speaking about the latest development, Founder & CEO of Colossyan, Dominik Kovacs, said:
Colossyan is dedicated to democratising knowledge with affordable, interactive video creation, rapidly responding to consumer feedback. Our commitment goes beyond making videos; we enable the creation of interactive learning experiences tailored to our customer’s needs, and we pride ourselves on our speed in adapting and learning. This agility has been crucial to our growth. Our partnership with Lakestar, aligning with our vision, is a significant step in not just revolutionising video production but doing so quickly to meet the growing demand for interactive learning, an essential aspect of our AI research.
Over the past year, the startup has experienced by 600% year on year and currently includes clients such as Porsche, Vodafone, and Paramount. Its team has grown significantly, from 15 to 45 employees over the last year.
Commenting on the fundraising, Akis Bratsos, Partner at Lakestar, stated:
This investment emphasises our confidence in the AI-driven corporate learning market and Colossyan’s robust path to revolutionise this field. Colossyan’s exceptional growth and distinctive features position the company as a true frontrunner, reshaping the future of corporate education. We are pleased to embark on this journey with the Colossyan team.
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