Kyiv-based Reface, a startup that develops AI instruments to empower content material creation, has secured €15.2 million ($18 million) in non-dilutive person acquisition funding from Singapore’s PvX Companions.
PvX Companions is a monetary companies and knowledge intelligence platform for client apps. It co-invests in an organization’s gross sales and advertising and marketing price range, and in return, receives a share of the income generated by newly acquired customers, topic to a predefined cap.
In accordance with Anton Volovyk, co-CEO of Reface, the capital shall be used to gasoline the subsequent part of development for its AI-powered client apps throughout creativity, wellbeing, and well being.
Based in 2018, Reface develops AI-native instruments in content material creation and life-style classes. It first gained widespread consideration after Elon Musk posted his face swap with the “made with Mirror” watermark on X.com. Reface app was launched in 2022 and was initially referred to as Doublicat.
Its product portfolio contains Reface, a cellular app that enables customers to exchange faces in movies and images, voice-over content material, and generate AI portraits from a number of selfies. Revive is a cellular app that enables customers to immediately edit and animate photos, together with images, memes, and artwork portraits. Restyle permits customers to alter the model of photos and movies. Different merchandise within the portfolio embrace unboring.ai, Ink AI, Letsy and Memomet. In accordance with the corporate, its merchandise have collectively been downloaded greater than 300 million occasions.
The corporate claims that its apps have been utilized by celebrities resembling Britney Spears, Dua Lipa, Justin Bieber, and Snoop Dogg. It has additionally collaborated with manufacturers, together with BMW, HALO, JBL, Prime Video, Toyota, and Common.
Reface іs backed by Andreessen Horowitz, Ilkka Paananen, CEO of Supercell, David Helgason, founding father of Unity Applied sciences, Scooter Braun, managing associate of TQ Ventures, Adam Leber, recognized for being the supervisor of Britney Spears and Miley Cyrus, in addition to an Uber investor, and Roosh, a Kyiv-based tech firm and funding group targeted on AI and ML.
In Might 2022, the corporate launched the Reface Fund to cowl the humanitarian wants of Ukrainian residents and defenders, and has donated €424.2k ($500k).
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