Nvidia's NVentures and NEA Co-Lead $50M Series A in Twelve Labs for Multimodal AI

Jun 4, 2024, 05:18 PM

Nvidia, alongside NEA, has co-led a $50 million Series A investment in Twelve Labs, a company focused on multimodal AI for video content analysis. The investment round also saw participation from Index Ventures, Radical Ventures, and Korea Investment Partners. Twelve Labs, founded by Korean-born engineers, aims to enhance the efficiency and deployment of multimodal AI in the enterprise sector. The company's platform seeks to unlock the vast amounts of data contained in video content, which traditional AI struggles to understand. This funding will support Twelve Labs in advancing its technology and expanding its market reach. Nvidia's NVentures and Twelve Labs' CTO Aiden Lee were also highlighted in the announcement.