Gracia AI Raised $1.2 Million to Bolster its AI Video Tools
Colin Smith — June 18, 2024 — Tech
References: gracia.ai & venturebeat
Gracia AI, a company at the forefront of spatial computing, has successfully secured $1.2 million in funding to develop tools for creating photorealistic volumetric videos. This technology is aimed at professional creators and media companies, offering them the capability to produce content with six degrees of freedom in viewing, enhancing the immersive experience of spatial computing. The investment round saw contributions from The Venture Reality Fund, Triptyq Capital, LVL1 Group, and Future Fund, indicating strong confidence in Gracia AI’s innovative approach. The funds are earmarked for expanding the team and launching a platform that merges the viewing experience of platforms akin to YouTube with the interactivity and creative possibilities of spatial computing.
The startup’s technology is currently compatible with all major virtual reality headsets and is expected to be available on desktop and mobile devices, as well as the upcoming Apple Vision Pro. With the spatial computing content market projected to reach over 70 million monthly active users by 2026, Gracia AI’s solution is well-positioned to cater to this growing demand.
Image Credit: Gracia AI
The startup’s technology is currently compatible with all major virtual reality headsets and is expected to be available on desktop and mobile devices, as well as the upcoming Apple Vision Pro. With the spatial computing content market projected to reach over 70 million monthly active users by 2026, Gracia AI’s solution is well-positioned to cater to this growing demand.
Image Credit: Gracia AI
Trend Themes
1. Immersive Content Platforms - Platforms merging traditional video sharing with volumetric video capabilities are transforming how content is consumed.
2. Six-degrees-of-freedom Viewing - Providing viewers the freedom to explore content from multiple angles is enhancing engagement and immersion.
3. AI-powered Video Tools - Leveraging artificial intelligence to create photorealistic volumetric videos opens up new frontiers for content creation.
Industry Implications
1. Virtual Reality - The expansion of volumetric video tools is revitalizing innovation in the virtual reality ecosystem.
2. Media and Entertainment - Volumetric video creation is poised to redefine storytelling and audience interaction in media and entertainment.
3. Artificial Intelligence - AI's role in generating high-quality volumetric videos underscores its increasing significance in creative technologies.
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