Adobe Boosts Capabilities with Acquisition of Bengaluru AI Startup, Refresh AI, Specializing in Text-to-Video
American software company Adobe has invested in the Bengaluru-based AI startup ‘Rephrase.ai,’ a platform driven by artificial intelligence to create videos. Co-founder Shivam Mangla shared this information on social media platform X on Wednesday.
He wrote, ‘Exciting news! Rephrase.ai, a creative tech company, has joined hands with Adobe, taking us into the next era of generative AI. Shivam Mangla addressed his team, saying, ‘Your success is our success; no one else’s matters.’ No information has been provided about the evaluation at which Adobe acquired Rephrase AI.
Rephrase AI Employees to Join Adobe
According to the Economic Times, a significant number of Rephrase AI employees will become part of Adobe as a result of this deal. Co-founder Mangla, also active in X, wrote, ‘Just as we start a new chapter in a big organization, possibilities become endless. I am excited to see what our team will create for the world of generative AI in the future. The future is creative and bright.’
Bengaluru-Based AI Startup Rephrase Started in 2019
Former IIT students Ashray Malhotra, Nishith Lahoti, and Shivam Mangla joined forces to start Rephrase AI in 2019. This Bengaluru-based startup offers text-to-video generation services, impacting and assisting video creators in producing professional video clips. As of today, the startup has raised a total of $13.9 million.
