Colossyan, a London-based text-to-video transition tool, has raised $5 million (£4.1 million) in a Series A funding round to disrupt the learning and development (L&D) industry with its Generative AI solution for managers, educators, and creators.
The round was led by Central & Eastern Europe VC investors LAUNCHub Ventures and backed by London-based L&D specialists Emerge Education together with existing investors Day One Capital, Oktogon Ventures, and APX.
Colossyan’s solution allows users to use a text prompt or upload presentations, documents, or audio to create an automated educational video, making it simple for companies for learning and development training, corporate communication, onboarding, sales enablement, and compliance. The startup’s primary product, Colossyan Creator, cuts video production and localization time from 2-3 weeks to less than 30 minutes, saving thousands of dollars per video for educators and corporate L&D teams.
Launched in 2022, Colossyan Creator quickly emerged as a significant player in the L&D text-to-video market. The company claims to serve over 400 clients in 46 countries, including Procter & Gamble, BMW, BASF, and Hewlett-Packard.
Dominik Mate Kovacs, Founder & CEO of Colossyan, said,
The level of interest and variety of use cases our customers have found for Colossyan has been incredible. In addition, we’ve received great feedback on additional features they would like to see developed – we’ll be able to do just that with our new investment.
The company plans to use the funds to grow its engineering and AI research teams. Colossyan also plans to expand its services further across London and New York.
Colossyan Creator has the potential to redefine how professionals work more efficiently through Generative AI. The company’s impressive growth, notable clients, and the team’s competency have contributed to a strong conviction in the company’s success, said Stanislav Sirakov, General Partner at LAUNCHub Ventures.
Jan Lynn-Matern, Founder and Partner at Emerge Education, added,
In the future, every learning designer will use a text-to-video solution to help build and localize the content they produce. Colossyan is the clear technological leader now and one of the fastest-growing players in this space. Our investment reflects our belief that the gap between them and their competitors is only set to grow.
Initially called ‘Defudger’, Colossyan was originally developed in 2018 to detect AI-generated content. However, during the development process, the team realized that their technology could directly enhance the quality of AI-generated content. After receiving positive feedback on early prototypes, the company switched to content creation full-time.
