Adobe acquired this Bengaluru-based AI startup, which was founded by three IIT’s
/ Discover Adobe’s latest leap into AI with the acquisition of Bengaluru-based Rephrase.ai. Elevate your video editing with innovative generative AI technology.
Date: 23 Nov 2023, 13:42 PM IST
In a recent move, Adobe has acquired Rephrase.ai, a Bengaluru-based startup founded by IIT alumni. Rephrase.ai specializes in simplifying video creation through its artificial intelligence (AI)-powered platform. The acquisition aims to enhance Adobe’s video-editing platform, Creative Cloud, by integrating Rephrase’s technology and generative AI capabilities.
The information was shared by Rephrase.ai’s cofounder Shivam Mangla on his official X (formerly Twitter) handle.
Exciting news! https://t.co/1vjINmfQE6 is getting acquired by a pioneering creative tech company, ushering us into the new era of Generative AI. 🚀 #GenAI #TechAcquisition #startups
— Shivam Mangla (@_shivammangla) November 22, 2023
Rephrase.ai, led by IIT Bombay graduates Ashray Malhotra, Nisheeth Lahoti, and IIT Roorkee alumni Shivam Mangla, has raised $13.9 million to date. The startup’s platform enables users to easily generate professional-looking videos and assists influencers and marketers in creating digital avatars.
As part of the deal, most of Rephrase’s team will join Adobe. While the exact deal size remains undisclosed, the founders are expected to receive cash and Adobe stock. This acquisition is a significant milestone for Adobe, marking its first foray into the generative AI and video-tooling space and representing the company’s first acquisition of an Indian startup.
In an internal memo to Adobe employees, Ashley Still, Senior Vice President and General Manager of Creative Cloud, highlighted the expertise of the Rephrase.ai team in generative AI video and audio technology. The move aligns with Adobe’s broader strategy in the generative artificial intelligence (AGI) space, as seen with the beta launch of the Firefly model in March. The company aims to bring advanced generative AI tools to its suite of applications and services, as demonstrated at the recent Adobe Max creativity conference.