Jared Leto is getting behind a startup with a disruptive vision: to use artificial intelligence to change the way videos are produced.

‍What’s happening:‍

  • Artificial intelligence video production startup Captions has raised $60M USD in a Series C financing round
  • The round saw participation from multiple legendary Silicon Valley venture capital funds including a16z, Sequoia Capital, Kleiner Perkins and actor Jared Leto

The big idea:‍

  • Captions has built a video production technology app which allows users to seamlessly create custom videos with avatars that are generated by artificial intelligence
  • Captions is also capable of leveraging artificial intelligence to create custom graphics and animations

By the numbers:‍

  • Captions currently has 10M users creating videos on their platform

Why it matters:‍

  • Large media companies have recently begun to use Captions for video production and content creation, including Disney (NYSE: DIS) owned ESPN

Going deeper:‍

  • Jared Leto has been a prolific angel investor in technology companies, previously backing startups such as Uber (NASDAQ: UBER), Robinhood (NASDAQ: HOOD) and Reddit (NASDAQ: RDDT)

The intrigue:‍

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