South Korean startup Twelve Labs announced Sunday it secured $5 million in a seed round from Index Ventures.
On its website, the venture capital firm with headquarters in Silicon Valley and London says it works closely with the companies it is backing – including unicorn companies like Confluent, Glossier, and Notion.
Twelve Labs explains that its AI technology extracts multiple features from video such as time, objects, text in video, conversations, people, and actions to synthesize the vast amount of information into vectors. The vectors, in turn, enable fast, semantic and scalable searches.
Twelve Labs was ranked No. 1 in the video retrieval track from the ICCV VALUE Challenge hosted by Microsoft last October.
Founded in Jan. 2021, the company has been providing closed trial services to clients in the United States and Europe.
Twelve Labs founder and CEO Jae Lee said, “We are in the process of expanding our business by interviewing potential clients.”
Write to Min-Ki Koo at kook@hankyung.com
Jee Abbey Lee edited this article.
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