According to an official release, Bluestone Equity Partners, a private equity firm focused on the sports, media and entertainment industry, announced a growth investment in VideoVerse, an AI-powered video editing solution.
“Our partnership with Bluestone can bring innovation in the realm of media technology by unlocking the potential of AI,” Vinayak Shrivastav, CEO, co-founder, VideoVerse, explained.
It is believed that VideoVerse’s Software as a Service (SaaS) platform uses AI models, computer vision and Machine Learning to transform full-length video footage into short-form content and highlights in real-time for leading rights-holders and content creators. Magnifi, VideoVerse’s flagship product, is expected to streamline labour, time and cost-intensive editing processes through cloud-based AI-driven analysis, among others, to curate, edit, and distribute short-form content and highlights.
“With Magnifi’s AI technology and SaaS technologies, VideoVerse can upgrade its quality and efficiency. We aim to help VideoVerse by upgrading the curation and monetisation of next-generation video and media,” Bobby Sharma, founder, managing partner, Bluestone, concluded.
