BlockBeats News, July 2nd, Twelve Labs is in the process of raising $100 million from investors including Amazon, NEA, and Naver Ventures to drive the development of its AI technology for fast searching and analyzing massive video data.
This NVIDIA-backed startup announced that the Series B funding round is led by NEA and Naver Ventures, with participation from Radical Ventures, Index Ventures, Korea Investment Partners, among others.
Meanwhile, Amazon Web Services (AWS) has signed a multi-year partnership agreement with the company to use its in-house Trainium chip to host its AI model workloads and plans to launch new models on the AWS platform for developers to build AI applications.
Twelve Labs, founded by Korean engineers, is headquartered in San Francisco, USA. The company focuses on developing AI models that can "understand and retrieve video content," making massive video archives searchable and analyzable, thereby enhancing content utilization efficiency and commercialization capabilities.
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