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The startup is expected to use the capital to expand business operations, ramp up tech and product development, and expand its technology team.
“Imagine being able to create high-definition content without the need for equipment other than your laptop. Under this new paradigm, every creator would be able to do so, with AI working as a creative counterpart,” said Ishan Sharma, co-founder, Deepsync Technologies.
This is the second round of fundraising for the company. As per its website, early-stage investor Zeroth.AI has also invested in the company.
Anjan Ghosal and Venkat Raju were the leads in this investment on behalf of Anicut Angel Fund while the other investors who participated in this round through the fund were Ashvin Chadha, Sanjiv Bajaj, Varun Thapar, Pran Mehra, and Tushar Singh. A representative of the fund will join the board of Deepsync Technologies.
“Voice revolution is happening and demand is exploding. Traditional methods of (voice) content production won’t cut it,” said Venkat Raju, an angel investor in the startup. “Deepsync has the right product at the right time and I expect them to ride this wave to become a market leader in this space.”
Avenues for deploying audio tech such as voice synthesis are increasing, and the voice cloning technology market is estimated to touch $1.74 billion by 2023. From generating audiobooks with your favourite voice in real-time, and actors being able to dub in different languages using audio tech, to customising your smart home assistant’s voice, the areas in which audio tech can be put to use are rapidly expanding.
Launched in 2019, Anicut Angel Fund provides early-stage capital to startups. The investment in Deepsync Technologies marks the fund’s second investment. Anicut Capital is the sponsor of Anicut Angel Fund and manages two funds in the small and medium enterprises debt segment, with assets under management of about $100 million.
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