The Portuguese startup Replai has just closed a €1.1 million seed investment round. Portuguese startup Replai announced that it closed an investment round seed € 1,1 million. The money will be used to develop its multimedia production business, increase the team and expand the company to markets such as the United Kingdom or the United States.
The investment was headed by Bright Pixel with input from Ideias Glaciares, Clever Advertising, the founders of Unbabel and other business angels, and members of gaming and applications companies such as Playrix, Nekki, Aptoide and Dashdash.
The company which uses artificial intelligence to create short videos for the sports industry was founded last year by João Costa and Francisco Pacheco who developed a platform that automises the creation of short films using algorithms that analyse longer videos and extract information from them.
Founded in 2019 by João Costa and Francisco Pacheco, Replai automates the creation of short-videos, a buzzing trend within the e-sports sector. The entrepreneurial duo developed a platform that automates the creation of short videos through algorithms that analyze longer videos and extract information from them.
Replai uses advanced artificial intelligence algorithms to automatically put together a set of highlights from any livestream competition, creating custom-made clips for each social network to maximize audiences and generating revenue for sponsors and advertisers.
Today, the team has 10 staff and advisors from top multinationals such as EA Sports, Google and WhatsApp.
“Our mission is to help e-sports companies take advantage of this paradigm shift and monetize their content. This round allows us, above all, to bring together a panel of experts in Gaming and technology that will help us make the leap as soon as possible”, say João Costa and Francisco Pacheco.
Source: ESSENTIAL BUSINESS, EU-STARTUPS, JORNAL ECONÓMICO
