Synthesia Reaches $2.1 Billion Valuation After $180 Million Fundraise

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Synthesia, a UK-based AI video avatar platform, announced on Wednesday that it has successfully raised $180 million in its latest funding round, led by venture capital firm NEA. This round pushes the company’s valuation to $2.1 billion, making it the most valuable generative AI media company in the UK, according to Dealroom data. This marks a significant increase from its $1 billion valuation in June 2023.

Synthesia’s cutting-edge technology enables businesses to create custom AI avatars for instructional and corporate videos. With over 60,000 customers, the company counts major players like Zoom Communications, Heineken, Inter IKEA Group, and more than 60% of the Fortune 100 companies among its clients.

The AI sector, fueled by the success of OpenAI’s ChatGPT, has attracted significant venture capital, with AI startups accounting for over 25% of European venture capital last year. Synthesia’s Series D round saw new investors such as Atlassian Ventures and PSP Growth join existing backers GV and MMC Ventures. This brings Synthesia’s total capital raised to over $330 million.

The company plans to use the funding to support its expansion efforts in North America, Europe, Japan, and Australia. With over 400 employees across seven countries, including offices in Denmark, Germany, and the U.S., Synthesia is well-positioned to capitalize on the growing AI video avatar market, competing with other startups such as Colossyan, HeyGen, and Veed.

 

Indonesia to Implement Child Protection Guidelines for Social Media Ahead of Age-Limit Law

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Indonesia is taking steps to enhance child protection on social media platforms while the government works on creating a law to set a minimum age for users. This move follows discussions between communications minister Meutya Hafid and President Prabowo Subianto about safeguarding children online. The country will impose interim regulations requiring social media companies to follow child protection guidelines, focusing on preventing physical, mental, or moral harm to minors.

The government’s action comes after Australia implemented a similar measure, banning children under 16 from accessing social media platforms, and penalizing tech giants like Meta and TikTok if they failed to enforce the rule. While Indonesia is working toward formalizing the law, senior communications ministry official Alexander Sabar emphasized that these new guidelines would not completely restrict children’s access to social media, but rather aim to protect them from harmful content.

Meta and TikTok have yet to respond to requests for comment on the matter. Local parents, like Nurmayanti, have expressed support for measures to protect children from inappropriate content. However, Anis Hidayah, a commissioner with Indonesia’s human rights body, cautioned that while child protection is critical, the government must balance the measures with children’s right to access information. Surveys show nearly half of children under 12 in Indonesia use social media platforms like Facebook, Instagram, and TikTok.

 

Nokia Signs Multi-Year Patent License Agreement with Samsung for Video Technologies

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Nokia has announced the signing of a multi-year patent license agreement with South Korea’s Samsung. The deal grants Samsung the right to use Nokia’s video technologies in its televisions. In return, Samsung will make royalty payments to Nokia, according to a statement released by the Finnish company on Wednesday.

This agreement is distinct from the existing 5G patent license agreement between the two companies. While Nokia confirmed the terms of the new deal are confidential, it emphasized that the agreement specifically pertains to video technology usage and does not overlap with their previous arrangements concerning 5G patents.