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Moonvalley raises $43 Mn to boost AI-powered video creation tools

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Moonvalley, a Los Angeles-based startup focused on developing AI tools for video creation, recently secured $43 million in additional funding, according to a filing with the SEC. The filing, submitted on Thursday, reveals that the company has raised around $53 million so far from 14 unnamed investors.

This $10 million injection is part of the existing funding round rather than a completely new one, bringing Moonvalley’s total funding to approximately $124 million, according to PitchBook estimates. This follows the company’s $70 million seed round in November last year. Moonvalley declined to provide any comments on the matter.

The growing availability of video generator tools has caused a surge in providers, saturating the market. Startups like Runway, Lightricks, Genmo, Pika, Higgsfield, Kling, and Luma, alongside tech giants such as OpenAI, Alibaba, and Google, are rapidly releasing new models, many of which offer similar features.

Moonvalley’s Marey model, developed in partnership with AI animation studio Asteria, provides advanced customization options including precise camera and motion controls, and can produce HD clips up to 30 seconds long. The company also claims its model poses lower legal risks compared to some other video-generation tools.

Where Moonvalley aims to stand out—and attract significant venture capital interest—is in the unique data it uses to train its models, combined with enhanced safeguards embedded within its video creation platform.

Moonvalley is collaborating with partners to manage licensing agreements and compile videos into datasets that the company then purchases. This strategy is similar to approaches used by Bria and Adobe, with Adobe sourcing training content from creators via its proprietary Adobe Stock platform.

The startup is also developing an interface for its model, which has not yet been publicly unveiled. According to Moonvalley’s co-founders in recent interviews, the software includes storyboarding features and detailed clip adjustment tools. Marey can create videos not only from text prompts but also from sketches, photos, and other video clips, Moonvalley claims.

Moonvalley was founded by Naeem Talukdar, former head of product growth at Zapier, alongside former DeepMind scientists Mateusz Malinowski and Mik Binkowski. John Thomas, who previously co-founded the startup Draft with Talukdar, has joined as COO. Additionally, Bryn Mooser, head of AI animation studio Asteria, is a co-founder of Moonvalley.

In a March blog post, Moonvalley stated, “We founded Moonvalley to make generative video technology that works for filmmakers and creative professionals.” The company emphasized its commitment to “addressing fear and distrust, as well as solving technical problems that keep generative AI from being a realistic tool for professional production.”

Moonvalley is positioning itself as a leader in the competitive AI video creation space by focusing on innovative technology tailored for creative professionals. By prioritizing ethical data sourcing, developing advanced customization tools, and addressing industry concerns around trust and technical limitations, the startup aims to deliver a practical and reliable solution for filmmakers and content creators.

VerSe Innovation to lay off 350 employees in May to focus on profitability

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L-R: Virendra Gupta and Umang Bedi, co-founders, VerSe Innovation

VerSe Innovation, the parent firm of content platform Dailyhunt and short-video app Josh, is set to lay off around 350 employees this month as part of a larger restructuring effort to improve profitability and advance its focus on artificial intelligence (AI).

The company explained that it is streamlining operations, optimizing talent across various business units, and focusing resources on high-growth areas as part of its ongoing efforts.

“VerSe Innovation has been undergoing a strategic transformation to build a more agile, focused, and future-ready organisation,” a company spokesperson said.

“This strategic transformation is geared at accelerating investments in AI, streamlining operations, and aligning the company’s strategy and structure to its long-term priorities and growth,” the statement added.

The layoffs are part of VerSe’s efforts to automate manual processes, reduce operational costs, and improve structural efficiency as it targets profitability by the end of FY25.

VerSe Innovation’s updated financial report shows that the company generated an operating revenue of ₹1,029 crore in FY24, a decline from ₹1,104 crore in the previous year. It also reduced its net loss to ₹889 crore in FY24, down from ₹1,909.7 crore in FY23.

However, VerSe had earlier reported a different FY24 figure, stating ₹1,261 crore in operating revenue and an EBITDA loss of ₹710 crore.

Looking ahead, VerSe projects over 75% revenue growth in FY25—significantly outpacing the estimated 10–15% growth in India’s digital advertising market. This anticipated surge stems from several key initiatives.

Notably, the company is advancing AI-powered platforms such as NexVerse.ai, launching a subscription-based service called Dailyhunt Premium in partnership with Magzter, and expanding VerSe Collab, a platform designed to manage influencer campaigns.

In April 2022, VerSe Innovation raised $805 million in a funding round led by the Canada Pension Plan Investment Board and the Ontario Teachers’ Pension Plan Board, which valued the company at around $5 billion. So far, VerSe has secured over $2 billion across multiple funding rounds and has been preparing to launch an initial public offering (IPO) this year.

VerSe Innovation is actively restructuring its operations to improve profitability, while also sharpening its focus on high-growth segments like AI and positioning itself for future expansion. By reducing costs, streamlining talent, and investing in strategic initiatives, the company aims to strengthen its financial performance and ultimately sustain long-term growth.

Cohere acquires Ottogrid to enhance market research capabilities

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Aidan Gomez, CEO, Cohere

AI startup Cohere has acquired Ottogrid, a Vancouver-based company that creates enterprise solutions to automate various advanced market research processes.

According to Omar, Ottogrid will discontinue its product but will provide customers with “ample notice” and “a reasonable transition period.”

“We’re very excited to join the Cohere team and integrate Ottogrid into Cohere’s … platform,” Omar said in a statement. “Through our work with Cohere, we’re [going to] dramatically impact how people can automate their workflows, enrich their data, and scale their operations.”

The company announced on Thursday that its annualized revenue has recently hit $100 million, driven by a strategic pivot towards private AI deployments for clients in industries such as healthcare, government, and finance.

Ottogrid, originally launched as Cognosys in 2023 by Omar and Homam Malkawi, rebranded in October 2024 following a significant platform redesign that added numerous new integrations, tools, and APIs.

Currently, Ottogrid features a “native table interface” with AI-driven document analysis capabilities. For instance, customers can extract data from websites and save it directly to spreadsheets or automatically enhance sales lead lists.

Before its acquisition, Ottogrid raised $2 million in venture capital from investors such as GV (Google Ventures), Untapped Capital, Replit CEO Amjad Masad, Vercel CEO Guillermo Rauch, and Cohere co-founders Ivan Zhang and Aidan Gomez, among others.

Omar states that as part of Cohere, Ottogrid will primarily focus on North, Cohere’s recently launched ChatGPT-style application designed to help knowledge workers with tasks like summarizing documents.

Cohere CEO Aidan Gomez said, “I’m super excited to bring the Ottogrid team aboard and incorporate Ottogrid’s product directly into North. We’re bringing enterprises a new way to tackle research with smart tables, helping make employees’ day-to-day work more enjoyable and productive.”

Cohere’s acquisition of Ottogrid marks a strategic move to enhance its AI-driven market research and knowledge management capabilities.

Groww to acquire Fisdom in $150 Mn all-cash deal

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L-R: Neeraj Singh, Harsh Jain, Lalit Keshre, Ishan Bansal, co-founders, Groww

Fintech giant Groww has signed a definitive agreement to acquire wealth-tech startup Fisdom in an all-cash deal, subject to regulatory approval, according to sources. The agreement values Fisdom between $140 million and $160 million.

This acquisition is seen as a strategic step to strengthen Groww’s wealth management capabilities and broaden its product suite. Moreover, it marks Groww’s second major acquisition, following its purchase of Indiabulls AMC in May 2023.

Anand Dalmia and Subramanya SV founded Bengaluru-based Fisdom in 2015. Since then, the company has provided a wide range of wealth management services, including mutual funds, stocks, bonds, portfolio management services (PMS), and tax filing solutions.

Backed by investors such as PayU, Saama Capital, and Quona Capital, Fisdom now serves over a million customers through a network of more than 15 offices across India.

Fisdom provides a comprehensive suite of wealth management solutions, including mutual funds, stocks, bonds, portfolio management services (PMS), and tax filing assistance.

Fisdom has partnered with 15 national and regional banks—such as Punjab National Bank and Indian Bank—to help these institutions distribute wealth products to their customers.

In FY24, Fisdom generated ₹84 crore in revenue, reflecting a 28% year-on-year growth. It also cut its net losses by 19% to ₹57.4 crore. Notably, Fisdom achieved EBITDA profitability in the March quarter of FY24, demonstrating improved operational efficiency and strong growth momentum.

Groww, founded in 2016 as a mutual fund investment platform, steadily broadened its product offerings to include stocks, IPOs, and ETFs by 2020. Consequently, by September 2023, NSE data showed that Groww had become India’s largest stockbroker by active client base.

As of April 2025, Groww maintained its leadership with a market share of over 26%. The company achieved profitability in FY23, reporting ₹1,277 crore in revenue and ₹449 crore in profit. Building on that momentum, Groww posted ₹3,145 crore in revenue and an operating profit of ₹535 crore in FY24.

After acquiring Indiabulls AMC in May 2023 to establish an asset management arm, Groww plans to acquire Fisdom to further strengthen its position in the wealth management space.

Groww’s strategic acquisitions reflect its commitment to expanding and enhancing its wealth management offerings. With the acquisition of Indiabulls AMC already boosting its asset management capabilities, the planned purchase of Fisdom will further accelerate its growth and solidify its leadership in the fintech space. Ultimately, these moves position Groww to deliver more comprehensive and innovative financial solutions to its growing customer base.

Fyn Mobility raises $2.5 Mn, eyes global expansion

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L-R: Visakh Sasikumar, CEO & Founder and Niroop Janardhanan, CBO, Fyn Mobility

Chennai-based Fyn Mobility has secured $2.5 million in a new funding round, backed by prominent investors including Vijay Kedia, Lloyd Balajadia—promoter of Philippines-based Lloyd Laboratories—and Swiggy CFO Rahul Bothra.

The EV-as-a-Service (EVaaS) startup plans to utilize the funds to grow its electric vehicle fleet, enhance its technology infrastructure, and venture into international markets, particularly in Southeast Asia.

Fyn is also in discussions with growth-stage investors to raise an additional $10 million to support its global expansion and technology advancement efforts.

“We’re building the future of mobility. Fyn’s vision is to become the world’s largest tech enabled supplier for the mobility sector. This has the potential to become larger than most of the aggregator and marketplace models in the market. Fyn is building out a unique and scalable business model which will redefine the mobility industry for good with a tech plus execution game at a fraction of the funding raised by other startups”, said Visakh Sasikumar, Co-Founder and CEO of Fyn.

The startup revealed that it partners with blue-chip clients such as Amazon, Flipkart, Blue Dart, and Porter, delivering up to 20% savings in logistics costs, efficient fleet deployment, and actionable, data-driven operational insights.

With its recent funding and a strong portfolio of enterprise clients, Fyn Mobility is poised to scale its operations, enhance its technology, and expand internationally. As it eyes new markets in Southeast Asia and beyond, the startup aims to redefine electric mobility through cost-efficient, tech-enabled logistics solutions.

IWG expands with 40 new centers by 2025, accelerates partnership model

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Marc Descrozaille, CEO - Middle East, Africa and APAC at IWG

IWG, a leading provider of flexible office spaces, plans to open 40 new centers by the end of 2025 through its growing partnership model, building on the 10 centers it launched between January and April 2025, according to regional CEO Marc Descrozaille.

“We have been in India since 2004 and and it took us all these years to get to 105 centers, with Regus initially, and later with Spaces and HQ. Conditions have changed after covid, both on the demand and the supply side. Clients want to be able to work from different office spaces. And therefore we expect growth going forward,” he said.

The company recently rolled out a partnership model, marking a significant shift in its operations.

“We are operating the space, bringing in the clients, and managing all distribution while landlords are investing in the space,” said the company, adding that it is transitioning from a traditional tenant approach to becoming strategic partners.

While the company is actively expanding its partnership model, it still values its legacy lease and sub-lease approach. IWG plans to continue operating its existing centers under the traditional model unless landlords specifically request a transition to the new partnership structure.

As of now, the convention model contributes about 75-80% of our overall revenue. At some point of time the ratio will be 50:50,” said Descrozaille.

He however admits that the margins typically for this new model will be smaller. “But on the other hand, IWG will not make the upfront investment.”

“Equally important is ensuring we have the right talent in place to support this growth. That means investing in our people—developing internal capabilities, building succession pipelines, and aligning our teams with long-term goals,” he said.

Regarding the opportunity in India, he noted that the country currently ranks among IWG’s top 15 global markets. With strong respect for and recognition of the market’s potential, the company aims to position India within its top three or four markets over the next five years.

“One element that is very unique to India is the size of the market. In other countries when we think of expanding, we think of moving from tier-I to tier-II cities, but in India we can even go to tier-III and tier-IV cities. So it’s very much a volume game, which is quite unique in terms of the size in India compared to anywhere else,” said Descrozaille.

IWG is strategically expanding its footprint with plans to open 40 new centers by the end of 2025, driven by a growing shift toward its partnership model. While the company continues to value its traditional lease structure, it is adapting to changing market dynamics and landlord preferences. With India emerging as a key growth market, IWG is setting ambitious goals to elevate its position among the company’s top global markets in the next five years.


ByteDance eyes on Meta’s Ad sales as TikTok dominates social media

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ByteDance is aiming for around 20% revenue growth in 2025, even amid concerns about a potential global economic slowdown—a rate that could bring its global business nearly on par with Meta Platforms.

According to sources familiar with the company’s financial outlook, TikTok’s parent company projects its revenue will rise from approximately US$155 billion in 2024 to about US$186 billion in 2025. This continues a trend of consistent 20%+ annual growth and brings ByteDance within striking distance of Meta’s estimated US$187 billion in revenue for the same year.

The company now reports having over four billion monthly active users across its suite of apps—comparable to Meta’s user base—according to the same sources, who spoke on condition of anonymity due to the confidential nature of the information.

TikTok’s rapid rise has drawn intense scrutiny, especially after the Biden administration initiated efforts to ban the Chinese-owned platform in the U.S. over national security concerns. Former President Trump is now allowing ByteDance time to negotiate a potential sale of TikTok—a process that could take months and has already attracted interest from major players like Amazon and Oracle.

Despite the looming threat of a U.S. ban, ByteDance continues to grow its global business, with TikTok expanding rapidly across international markets. Although the company set a slightly lower growth target for 2025 compared to last year’s 29%, executives note that they may adjust the target as they gain better clarity on business performance.

SoftBank Group’s Vision Fund raised ByteDance’s valuation to over US$400 billion last year, citing the company’s expanding role in generative artificial intelligence. According to Bloomberg News, other major investors like Fidelity Investments and T. Rowe Price Group have also increased their valuations, pegging ByteDance at more than US$410 billion and US$450 billion, respectively.

However, the company’s overall growth has slowed significantly since 2023. Douyin, ByteDance’s flagship video platform in China, is facing declining consumer activity and reduced advertising spend amid economic headwinds in the country. As a result, TikTok—its international counterpart—has increasingly become the primary driver of revenue growth.

Kuku expands globally with audio and video OTT platforms

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L-R: Vikas Goyal, Vinod Kumar Meena, and Lal Chand Bisu, co-founders, Kuku FM

Kuku, an emerging storytelling and entertainment platform from India, plans to broaden its international presence this year by launching its audio and video OTT platforms in major markets such as the United States and Southeast Asia, including Indonesia, the Philippines, and South Korea.

Vinod Kumar Meena, COO and Co-Founder of Kuku, said, “India is such a hotbed of stories around culture, tradition, science, spirituality, fiction and more. So why has India not emerged as a soft power in storytelling? If you look at South Korea then KDramas and Kpop have become such an important part of their economy.

With a catalog featuring more than 100,000 hours of audio stories and hundreds of microdramas across eight languages, Kuku has built a sizable content library comparable to leading streaming OTT platforms. The company introduced microdramas to a broader Indian audience with the launch of its video OTT arm, Kuku TV, in September 2024. Since then, it has become a significant player in the microdrama space. With over 5 million active paying users across both audio and video offerings, Kuku has set its sights on increasing its user base in India, aiming to eventually exceed Netflix’s subscriber count in the country.

Given we are the largest entertainment industry in the world, stories and storytelling should be our soft power and our biggest cultural export. There is immense potential in this to not only become a major contributor to our creative economy but also help create new jobs, opportunities and talent in the industry. We have hundreds of thousands of titles in our library which we want to take to the world this year.”

Kuku offers content across a diverse range of genres, including entertainment, education, spirituality, sci-fi, and fiction, catering to a broad spectrum of audiences. As it expands internationally, the company is placing a strong emphasis on understanding local cultures and preferences. In the U.S., Kuku is targeting the Indian diaspora, particularly speakers of Hindi, Tamil, and Telugu.

In Southeast Asia, the company aims to tap into audiences already acquainted with Bollywood and Indian television serials. With mobile devices serving as the primary content access point in many of these regions, Kuku has identified the Philippines and Indonesia as key initial markets for growth.

“For us, it’s more than just scaling; it’s about bringing a piece of home to Indians living abroad. We want them to hear familiar voices and stories, no matter how far they are from their roots,” shared Vinod Kumar Meena.

In South Korea, Kuku aims to connect with a tech-savvy audience that enjoys immersive storytelling, similar to the popularity of K-dramas on OTT platforms like Netflix, TVING, and Wavve. With growing curiosity about Indian narratives, Kuku is exploring innovative ways to engage this audience through its own OTT offerings, seeking to expand its community of viewers and listeners in the region.

With its ambitious global expansion, diverse content library, and focus on culturally tailored storytelling, Kuku is positioning itself as a significant player in the international OTT platforms landscape. By tapping into regional preferences and leveraging the universal appeal of Indian stories, the platform aims not only to entertain but also to build cultural bridges and drive growth in the global creative economy.

Redpoint raises $650M for early-stage fund after three years

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Alex Bard, Managing Directors, Redpoint Ventures

Redpoint Ventures secures $650 million early-stage fund—its 10th—according to a recent regulatory filing. Redpoint has matched the size of its previous early-stage fund, raising the same amount nearly three years later. As many venture firms scale back their fundraising efforts, Redpoint’s consistency suggests that its limited partners continue to show strong support and satisfaction.

Four managing partners—Alex Bard, Satish Dharmaraj, Annie Kadavy, and Erica Brescia, the former COO of GitHub who joined Redpoint in 2021—oversee the firm’s early-stage investments.

The team recently made notable investments in Poolside, an AI coding startup co-founded by former Redpoint partner and ex-GitHub CTO Jason Warner; Cockroach Labs, which develops a distributed SQL database; and Levelpath, a platform that focuses on procurement management.

In addition to its early-stage strategy, Redpoint also operates a growth investment arm. That effort is led by Logan Bartlett, Jacob Effron, Elliot Geidt, and Scott Raney. Last year, the firm raised its fifth growth-stage fund at $740 million, slightly above the $725 million fund closed three years earlier.

Next Insurance exited Redpoint’s portfolio in March when it was acquired for $2.6 billion. Wonder bought Tastemade, a food and travel media company, for $90 million. IBM acquired HashiCorp for $6.4 billion, marking another major exit for Redpoint.

Redpoint Ventures has demonstrated its credibility and strong performance by raising another $650 million early-stage fund—matching its previous fund despite a more challenging fundraising environment. Moreover, the firm continues to build investor confidence through its strong leadership, a portfolio of high-potential companies, and several successful recent exits. As a result, Redpoint further solidifies its position as a leading player in both early- and growth-stage venture investing.

Vibe-coding pioneer Windsurf shifts to in-house AI model strategy

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Windsurf, a startup known for creating AI model for software developers, has launched its first proprietary family of software engineering models, called SWE-1. The suite—which includes SWE-1, SWE-1-lite, and SWE-1-mini—aims to support the entire software engineering workflow, not just code generation.

Windsurf may surprise many with the release of its in-house models, especially amid reports that OpenAI has finalized a $3 billion deal to acquire the company. Nonetheless, the launch shows that Windsurf aims to move beyond application development and build its own foundational AI models.

Windsurf claims that SWE-1, its most advanced AI model, performs on par with models like Claude 3.5 Sonnet, GPT-4.1, and Gemini 2.5 Pro on internal coding benchmarks. However, it doesn’t quite reach the level of top-tier models like Claude 3.7 Sonnet in software engineering capabilities.

The company will make SWE-1-lite and SWE-1-mini accessible to all users, both free and paid. In contrast, it will reserve SWE-1 for paying subscribers. Although Windsurf did not share pricing details at launch, it claims its models are more cost-efficient than Claude 3.5 Sonnet.

Windsurf has gained recognition for enabling engineers to engage in “vibe coding”—a conversational coding style powered by AI chatbots. Other major players in this space include Cursor, the largest in the category, and Lovable. Traditionally, these companies have used third-party AI model from providers like OpenAI, Anthropic, and Google to build their platforms.

In a launch video, Nicholas Moy, Windsurf’s Head of Research, highlighted the rationale behind the new models: “Today’s frontier models are optimized for coding, and they’ve made massive strides over the last couple of years,” Moy explained. “But they’re not enough for us … Coding is not software engineering.”

A blog post from the company elaborates that while existing AI model can write code effectively, they often fall short when it comes to managing tasks across multiple environments—such as terminals, IDEs, and browsers. Windsurf says SWE-1 was trained using a novel data approach and a “training recipe that encapsulates incomplete states, long-running tasks, and multiple surfaces.”

The startup refers to SWE-1 as its “initial proof of concept,” indicating that additional AI models may be in development for future release.

Windsurf’s launch of its own AI models marks a significant step as the company takes greater control over the technology powering its tools. By developing and deploying SWE-1 and its variants, Windsurf aims to deliver a more integrated and efficient software engineering experience for developers, setting the stage for continued innovation in the vibe-coding space.