Wednesday, October 4, 2023

Samsung funds Irreverent Labs, a startup that creates AI videos

By ET Bureau - August 27, 2023 1 Mins Read

Samsung funds Irreverent Labs, a startup that creates AI videos

Samsung Electronics Co., Ltd. has invested in Irreverent Labs Inc., a Seattle-based startup that develops artificial intelligence models for the generation of video content.

Irreverent Labs announced the investment recently. The startup withheld the amount of money it received from Samsung. GeekWire claims that the capital was provided by the electronics behemoth through its Samsung Next startup fund.

In 2021, Chief Executive Officer Rahul Sood, who formerly oversaw Microsoft Corp.’s venture capital arm, and Chief Technology Officer David Raskino co-founded Irreverent Labs.

For the purpose of creating a video game with a built-in cryptocurrency, the startup raised USD 45 million. Irreverent Labs put a stop to its development work last year in order to refocus on the generative AI market.

Read More: Samsung invests in AI video generation startup Irreverent Labs

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