AI imaging provider D-ID closes $25 million funding round, bringing total funding to $48 million
The proceeds from this round, from investors across three continents, will allow D-ID to double the number of experts on its deep-learning and computer vision teams, broadening the scope and reach of its pioneering technology as it continues to produce products that transform the digital-human interface, the company said. The round will also enable D-ID to expand and support the company’s sales and marketing teams in the United States, APAC and EMEA.
The Digital Human and Metaverse market is set to grow more than tenfold in the coming decade, and D-ID is rapidly engaging new clients in the fields of e-learning, corporate training, marketing communications, AI assistants, history, and heritage.
D-ID uses AI and deep learning to develop reenactment-based products ranging from animating still photos to developing high-quality digital avatars. D-ID’s wide range of customers include Warner Bros. Studios, Mondelez, Publicis, and MyHeritage, whom D-ID partnered with to create Deep Nostalgia, which has created nearly 100 million animations since its launch, and more recently, LiveStory, which enables the creation of AI-generated biographical videos narrated by photos of users’ ancestors (example shown below).
D-ID has also partnered with The Glimpse Group, a diversified virtual reality and augmented reality platform, to develop AI, AR and VR applications for the Metaverse.
This new round of funding comes on the heels of a whirlwind of success for D-ID. In early March, the company was named by Fast Company as one of the Most Innovative Companies of 2022 in EMEA. In February, D-ID won best use of AI in the Digiday Marketing and Advertising Awards Europe, and in January, the company’s proprietary Live Portrait technology was named a finalist for the SXSW Innovation Award.
“Over the past year we have witnessed the skyrocketing success of our technology across so many applications and industries, with the power to generate so much good,” said Gil Perry, CEO and co-founder of D-ID. “We are incredibly grateful for this new round of funding and strong partnership with Macquarie, which will enable us to scale up our business and our technology to the next level. We’re excited for what the future holds.”
“Our purpose is about empowering people to innovate and invest for a better future. D-ID helps us imagine that future,” said David Standen, Global Co-Head of Macquarie Capital Venture Capital Group. “We’re delighted to gain exposure to this rapidly growing sector. This technology offers so many uses across such a wide variety of industries. They’re true pioneers in a pioneering market. We know this is just the beginning for D-ID and Macquarie.”