Hedra, a San Francisco, CA-based company building the next generation of storytelling technology, has raised $10 million in seed funding.
Hedra has also introduced Character-1, a generative AI video foundation model. Character-1 offers unprecedented expressive control over character-centric videos, enabling longer-form generation without sacrificing speed or ease of use.
Investors
The investment round was led by Index Ventures, Abstract, and A16Z Speedrun.
Index Ventures, founded in 1996 with offices in London, San Francisco, and Geneva, partners with entrepreneurs worldwide to develop bold ideas into global businesses, from Seed to IPO.
Founded in 2016, Abstract Ventures is a venture capital firm based in San Francisco, California. The firm seeks to invest in biotechnology, consumer, crypto-blockchain, and enterprise frontier technology sectors.
Speedrun is A16Z GAMES’ accelerator for early-stage tech and gaming startups.
Hedra Use of Funds
The company will use the funding to continue the development and expansion of its technology.
About Hedra
Hedra provides a generative AI video creation platform. With its flagship product, Character-1, Hedra offers content creators, marketers, and businesses powerful tools to produce expressive, controllable, and efficient long-form videos. Since its initial release, over 350,000 users have generated more than 1.6 million videos using the platform.
Funding Details
Company: Hedra, Inc.
Raised: $10.0M
Round: Seed Round
Funding Month: August 2024
Lead Investors: Index Ventures, Abstract, A16Z Speedrun
Addtional Investors:
Company Website: https://www.hedra.com/
Software Category: Video Creation
Source: https://www.hedra.com/blog/announcement