Aug X Labs Secures Over-Subscribed Pre-Seed Funding Round
Company Building AI-based “Prompt-to-Video” Tool for Content Creators
Aug X Labs, a company dedicated to democratizing video creation through AI technologies, today announced its pre-seed funding round of $1 million. Aug X Labs is founded by serial entrepreneur Jeremy Toeman (CEO), along with Scott Havird (CTO) and JT White (Chief Product Officer and Chief of Staff).
The company is building an AI-based visual storytelling platform that automatically transforms text or audio prompts into compelling, purpose-driven videos that convert audiences. The platform, in a limited alpha today, is ideally suited for any business or creative professional who uses video for creating ads, product demos, sizzle reels, company update videos, and any other form of visual storytelling. Small businesses, advertisers, marketers, podcasters, and other independent content creators can achieve their video-driven goals cheaper, faster, and easier using the Aug X Labs product.
“Anyone with an iPhone or webcam can record and upload video, but creating meaningful visuals with content that is dynamic, engaging, and impactful still requires expensive, time-consuming software with a huge learning curve or by hiring professionals. We saw an opportunity to create a product that solved those challenges and put video production skills in the hands of anyone and everyone,” said Toeman, founder and CEO of Aug X Labs. “Our goal is to help people create better content that can have a real positive impact on their audiences.”
The company’s platform allows users to automatically augment their video creations using open or licensed media (photos, short clips, etc), generative media (AI Art), and owned media. Aug X Labs is also integrating with Unsplash, the preeminent free-image platform for global creators, allowing users to add professional-quality content to their videos. Further, embracing the recent capabilities of generative media, the company supports StabilityAI’s Stable Diffusion text-to-image model using Replicate.com API wrappers. The combination of leveraging existing media with generative content enables storytellers to create powerful visuals without the overhead of learning complicated technology.
Yohei Nakajima, CEO of Untappd.VC and investor in Aug X Labs, said, “The explosion of AI-created generative media and ‘prompt-to-video’ renderers will only increase the need for products and services that can easily create dynamic, engaging content to inform communities and attract users. I’m very excited about the work Jeremy and his team are doing and can’t wait for them to share it.”
Aug X Labs prides itself on having a product-led focus combined with a rooted desire to create joyful user experiences. The company also conducts team scrimmages as a way to rapidly test skills across engineering, product, design, and marketing. The company’s first scrimmage resulted in Moviedle, which was a successful product and learning experience. Moviedle has served over 6 million unique players, and resulted in a partnership with content- recommendation company, LikewiseTV. The company went on to create several additional daily online games under the 12:01 Games umbrella.
The company’s most recent scrimmage resulted in PromptLocker. The site lets users upload, save, and build an AI Art Library. PromptLocker also includes a system to rank and get feedback on existing images and prompts from Stable Diffusion, Midjourney, Craiyon, and other AI-based generative art platforms.
Aug X Labs initial investors and advisors include Yohei Nakajima (Untappd.VC), Noah Gale (Co-Founder, Tribe AI), Marc Whitten (SVP & GM, Create @ Unity), Alanna Gregory (Crosscut VC), David Beck (Brightcove), Ben Parr (Octane.AI), Rahim Fazal (CEO of SV Academy/x-Oracle), Jesse Redniss (Qonsent), Avner Ronen (founder, Boxee), Kevin Conroy, Rob Hoffer, Ryan Bricklemyer, Deep Banerji, Scott Ryan, and many other esteemed colleagues.
The company’s product will be revealed later this year as it enters a public beta. For more information please visit Aug X Labs or LinkedIn and to be considered for early beta access, join the company’s Discord.
ABOUT THE FOUNDERS
Jeremy Toeman is a serial entrepreneur, senior executive, and established inventor in the video space for more than two decades. His experience of building transformational products includes the HP Digital Media Receiver (first ever streaming media device), the award-winning Slingbox, NextGuide (first TV Guide app to include live + streaming together), Germany’s Joyn streaming service, and multiple AI-first products at WarnerMedia. Jeremy has also achieved large scale success leading product teams at CBS Interactive, Etsy, and WarnerMedia. Jeremy is a proud father and has a passion for bringing joy with everything he works on.
Scott Havird has 15 years of experience as a principal architect and lead engineer with companies such as RaceTrac, Turner Broadcasting, and WarnerMedia. Scott is a father and husband with a passion for technology, AI, and machine learning.
JT White is a seasoned product leader in the TV and media industry, with over 15 years experience developing new businesses, launching products, and building successful teams and unique cultures. He’s worked on mobile, web, and infrastructure/data in both the B2B and B2C world. He's a father, husband, dog-dad, and accidental author with a passion for building things in the physical and digital world.
ABOUT AUG X LABS
Aug X Labs is an AI-based “prompt to video” technology and publishing startup focused on helping creators bring relevant and compelling visuals into their video stories. Our primary focus is to build tools for creators that help democratize video creation by transforming anyone’s words or thoughts into dynamic, engaging, and relevant video content in mere minutes. We are a company intent on making technology easier for creators, allowing them to focus on having fun while engaging with their communities. For more information on Aug X Labs, go to Aug X Labs or join our Discord.
FOR MORE INFORMATION CONTACT:
Brian Jaquet / Aug X Labs