VideoVerse, a software-as-a-services (SaaS) based video editing platform, has acquired the US-based AI-enabled content generation startup Reely.ai to expand its services in gaming and esports. VideoVerse is backed by Baring Private Equity India, A91 Partners, Alpha Wave Global, and Moneta Ventures, and had raised $46.8 million in a Series B funding round last year. The transaction amount for the acquisition has not been disclosed. Reely.ai uses AI to identify highlights and key moments during a game, simplifying the creation of highlight videos for creators across various social media channels.
Its technologies help sports teams, content creators, and esports organizations to optimize content for the audience on social media with real-time effect, and it creates new workflows for content production, brand marketing, and monetization.It seems that the content-startup segment is experiencing significant investment and activity, with startups such as WLDD, MemeChat, and Content Engineers raising significant amounts of funding. WLDD, a meme marketing startup, recently raised $1.25 Mn in a seed funding round from Negen Capital. MemeChat launched The Meme Club in January 2022, and Content Engineers raised $50 Mn during the same period. This indicates that investors see potential in the content generation market, which is expected to grow at a CAGR of 11% to reach INR 2.32 Tn ($30.9 Bn) by 2024, according to a 2022 report by EY.