Adobe's Rephrase.ai Acquisition Marks Strategic Entry into Indian Startup
Adobe, headquartered in San Jose, has completed its first acquisition of an Indian tech startup by acquiring Rephrase.ai, an AI company based in Bengaluru that specializes in video creation technology driven by generative AI (GenAI). The exact financial details of the transaction have not been revealed. This acquisition is viewed as a strategic step by Adobe to strengthen its video-editing platform.
Rephrase.ai established in 2018, has established a unique position in GenAI video and audio technology, particularly with its text-to-video generator tools. Over time, the startup accumulated a total funding of $13.9 million, with a substantial $10.6 million raised in its most recent funding round in September of the preceding year. Ashray Malhotra, Co-founder of Rephrase.ai, officially confirmed the acquisition through a LinkedIn post, highlighting the company's integration into a prominent tech entity, strongly indicating Adobe.
The acquisition signifies a pivotal moment for Rephrase.ai, as its innovative proficiency in GenAI-powered video and audio technology is anticipated to bolster Adobe's capabilities in video editing. This collaboration could potentially open up new dimensions in the realm of video creation and manipulation.
