Were you unable to attend Transform 2022? Check out all of the summit sessions in our on-demand library now! Watch here.
Kinetix, a Paris-based AI-assisted 3D animation platform, today announced it has secured $11 million in a funding round. Kinetix, which was founded in 2020, has built a no-code platform that allows Web3 and content creators to transform any video into 3D animated avatars. Millions of creators around the world may now access 3D creation using the company’s free AI-powered platform, according to the company’s press release.
No-code AI is a category in the AI landscape that tries to make AI more accessible to everyone. When it comes to AI and machine learning models, no-code AI refers to the use of a no-code development platform with a visual, code-free and frequently drag-and-drop interface. No-code AI enables the creation of AI models without the need for specially trained individuals. Since there is currently a scarcity of data science talent in the market, organizations can benefit from this greatly.
An article published in Forbes estimates 83% of organizations consider AI to be a strategic priority for them right now. A surge in demand for AI talent encapsulates this notion. LinkedIn research from 2020 found that the demand for the post of AI in the United States increased by 74% in the previous four years. Forbes also claims AI will create 58 million jobs in 2022.
Creating unique AI solutions necessitates writing code, cleaning data, categorizing, structuring data, training and debugging the model. For individuals who aren’t familiar with data science, this will take even longer. According to studies, minimal code/no-code solutions have the potential to save development time by 90%.
MetaBeat will bring together thought leaders to give guidance on how metaverse technology will transform the way all industries communicate and do business on October 4 in San Francisco, CA.
Benefits of a no-code, AI-powered platform
With the Kinetix platform, everybody can generate fully featured 3D animations to share and integrate into virtual worlds, by uploading video clips into the Kinetix platform. This opens up new avenues for self-expression in the metaverse. It then goes on to make the metaverse more engaging, similar to a video game, rather than a passive experience, like a movie. Instead of content created for consumption by media and advertising organizations, it will mainly incorporate user-generated content (UGC).
Given the rapid rise of virtual worlds, there is a demand for simple platforms for creating 3D content and monetizing it. That’s where Kinetix’s AI-powered, no-code technology comes in. Kinetix is designed to allow creators to upload snippets of video, integrate assets from the Kinetix library, which includes assets like Adobe Mixamo and Ready Player Me, choose their design and have a fully rendered 3D identity in no time!
Kinetix empowers user-generated content on Web2 and Web3 together with The Sandbox and Zepeto. This enables new forms of expression in current and prospective metaverses, which will increase engagement and lead to the birth of new types of UGC games and experiences. Everyone can now easily create films, concerts, group dances and video games for virtual environments with Kinetix.
“In the metaverse, we provide a platform to foster user-generated content. We enable millions of people to create their own animated avatars and express their individuality in free and exciting ways, by making creation simple and quick,” said Yassine Tahi, cofounder and CEO of Kinetix.
More on Kinetix funding
Kinetix’s $11 million seed round was led by Adam Ghobarah, founder of Top Harvest Capital and former longtime executive at Google and Google Ventures.
The funding, according to Tahi, will help the company realize its objective of humanizing the metaverse. He also said that it will stimulate collaborations with other fascinating virtual worlds such as The Sandbox and Zepeto (both companies participated in the funding). The promise of Kinetex’s technology, according to Sebastien Borget, cofounder and COO of The Sandbox, is to enable the development of advanced animations for avatars from any video capture, helping to define the future of digital expression and its monetization in Web3.
Kinetix also secured investment from top Web3 players like Sparkle Ventures, comanaged by Animoca Brands, Entrepreneur First and successful entrepreneurs including Alexandre Yazdi (CEO of Voodoo), Xavier Niel (founder of Station F) and William O’Farrell (founder of Body Labs and After Effects).
“Kinetix immediately stood out for me, by the quality of the founders, the quality of the machine learning technology and the scope of the opportunity for no-code AI in video and Web3,” said Adam Ghobarah, founder of Top Harvest Capital.
Tahi said this additional capital is a milestone in pursuing Kinetix’s mission, as it allows creators to earn royalties from their creations by monetizing them in virtual worlds. Kinetix has raised $12.5 million in total funding to date.
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Discover our Briefings.