Oxolo, a Hamburg, Germany-based startup that provides generative AI solutions for text-to-video applications, has raised €13 million in Series A funding.
SaaS Investors
The funding was led by DN Capital and included participation from individual investors. Including Christian Vollmann, Johannes Plehn, Thomas Hagemann, Stefan Wiskemann, Alex Täubert, and Mischa Ruerup.
Oxolo Use of Funds
The company plans to use the funds to advance its research and development efforts, expand its team, and accelerate the commercialization of its AI solutions.
About Oxolo
Founded in 2020 by Elisabeth L’Orange and Heiko Hubertz, Oxolo is building a platform for generative AI-based media. Oxolo's AI solutions enable the automated generation of videos for various applications, including advertising, e-commerce, e-learning, and e-health. Oxolo has attracted over half a million customers from more than 75 countries, including well-known firms like Deloitte and Rothschild.
Funding Details
Company: Oxolo GmbH
Raised: €13.0M
Round: Series A
Funding Month: October 2023
Lead Investors: DN Capital
Additional Investors: Christian Vollmann, Johannes Plehn, Thomas Hagemann, Stefan Wiskemann, Alex Täubert, and Mischa Ruerup
Company Website: https://www.oxolo.com/
Software Category: AI-driven Video Platform
Source: https://www.finsmes.com/2023/10/oxolo-closes-e13m-series-a-funding.html