Adobe Systems, a global leader in digital media solutions, is expanding its generative AI capabilities by reporting the acquisition of Bengaluru-based startup Rephrase.ai.
Rephrase.ai—co-founded by Shivam Mangala, Ashray Malhotra, and Nishet Lahoti, graduates of IIT Bombay and IIT Roorkee—simplifies video production, turns text into professional-looking videos, and has garnered attention in the fast-growing text-to-video segment. AI generation space.
The acquisition, which was announced by Mangala but not officially confirmed by Adobe, aligns with its continued investment in generative AI, which includes the recent launch of Adobe Firefly and improved AI features in Photoshop. Adobe did not respond to Decrypt's request for comment.
Mangla, CEO of Rephrase.ai, took to social media to express their enthusiasm and highlight the team's journey and achievements.
“Rephrase.ai is being acquired by a pioneering technology company, taking us into a new era of generative AI,” Mangala wrote, describing how Techstars' Incubator program, key partnerships, celebrity collaborations and successful US market expansion fueled it. The beginner's journey.
“Thank you to the 50k+ users who have trusted Rephrase products over the years, and we remember the trust and love you've shown working with us,” he continued. “As we begin this new chapter at a larger org, the possibilities are endless.”
The text-to-video AI wave is rising.
The field of text-to-video AI generation has grown exponentially, with companies like Meta releasing EMU Video and RunwayML leading the way in assembling the space. In addition, Pika Labs and Stability AI have introduced popular video generation models, with the latter recently unveiling Stable Video Diffusion, an open-source alternative capable of generating high-quality videos at high resolution.
Stable Video Transmission offers two models, SVD and SVD-XT, that support video generation at speeds ranging from three to 30 frames per second. Reported by Decrypt earlier today, this development adds to the changing landscape of AI-driven video generation.
Adobe's acquisition of Rephrase.ai is another step forward in its business model. The multimedia software has already shared a tool that uses AI to “paint” huge videos and adjust their appearance. However, video generation from scratch is very difficult, because the AI model has no reference to work with (pixel space) and everything happens algorithmically (hidden space).
This acquisition comes as India's generative AI startup ecosystem is gaining momentum. According to Inc42's 2023 report on ‘Generative AI Startup Landscape', Indian startups in this domain have raised over $440 million as of 2019. Rephrase.ai's success story, with a total of $13.9 million in funding and a significant round led by Red Ventures, has given Adobe a place. In this growing market.
As Adobe integrates Rephrase.ai's technology with Creative Cloud, including Premier Pro and After Effects, the ability to create AI-powered video content tools becomes ever more tangible.
Edited by Ryan Ozawa.
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