Paris-based AI video production startup Argil, which transforms articles and content into engaging videos, has raised €4.9 million in a funding round led by EQT Ventures, with support from Seedcamp and Axeleo.
- Founded in 2023 by Brivael Le Pogam and Laodis Menard, Argil develops an AI platform that allows users to create video avatars from simple video uploads or text and audio scripts. The technology generates hyper-realistic, multilingual avatars that can adapt to various formats.
- The platform is aimed at helping content creators, educators, and small businesses produce video content quickly and at a low cost. Users can customize avatars, automate video editing, and convert text or audio into animated videos.
- Argil's pricing starts at €1 per minute of video, making it more affordable for users to create engaging content for different purposes, including social media or educational materials.
Details of the deal
- The fresh capital was led by EQT Ventures, a Stockholm-based multi-stage VC fund with a portfolio of 91 startups, 204 investments, and 29 exits, including companies like Onramper, Luko, Siilo, and AirKit.
"Argil is perfectly positioned to benefit from two megatrends, AI and the creator economy. Synthetic media has become one of the fastest-adopted technologies, and we’re hugely impressed by the team’s experience and ability to pack so much technology into such a sleek platform," Partner at EQT Ventures, Ted Persson, stated.
- The pre-seed round also saw support from Seedcamp, Kima Ventures, and STATION F, as well as Lyon-based Axeleo, managing €300 million in assets. Axeleo recently closed €125 million of its €250 million Green Tech Industry I Fund. Other investors include YouTuber Kwebbelkop and Charles Gorintin.
"As an early angel investor, I couldn’t be prouder to see Argil revolutionizing the creator economy with their cutting-edge platform. By harnessing the power of generative AI, Argil makes video creation faster, more affordable, and accessible to everyone—creators, businesses, educators, and more," Angel Investor, François Dorléans, commented.
- With the fresh capital raised, the startup plans to scale operations, enhance its AI platform, and expand its team to meet the growing demand for accessible, high-quality video content.
