Bengaluru-based Generative AI platform Rephrase.ai that was involved in the globally awarded #NotJustACadburyAd campaign has accepted an offer to be acquired ‘by a leading creative tech company’.
“Excited to usher into this new era of GenAI, with tremendous resources of a large tech,” said Co-founder Shivam Mangla in a LinkedIn post.
Rephrase.ai co-founded by Ashray Malhotra, Nisheeth Lahoti and Mangla uses generative AI to convert text to video. It counts Lightspeed India and Silver Lake as investors.
An Economic Times report named US-headquartered tech major Adobe as the buyer.
“It’s always a bittersweet moment to exit your first startup, but I’m really excited to usher into this new era of GenAI, with tremendous resources of a large tech, as the next chapter of our lives,” added Mangla.
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