Moments Lab Raises €21 Million to Scale Video Discovery with Agentic AI

French startup Moments Lab has raised €21 million to enhance its AI video discovery technology and expand in the U.S. The funding comes from existing investors and new backers, focusing on improving their MXT-2 multimodal AI which helps streamline video editing and content management. Moments Lab aims to facilitate media teams’ workflows by making audiovisual content searchable and manageable, ultimately promising significant growth through 2025.

Today in Paris, French startup Moments Lab, known for its innovative AI video discovery technology, announced a significant boost to its ambitions with a fresh funding round totaling €21 million. The funds will primarily be used to accelerate expansion efforts in the United States and enhance their research and development work, particularly revolving around their MXT-2 multimodal AI system.

This latest funding round saw familiar faces, like Supernova Invest and Elaia Partners, returning to support the venture, while bringing in new investors such as Oxx, Orange Ventures, and Kadmos. The participation of these firms underscores the growing interest in AI solutions for video content management.

Co-founder and CEO Philippe Petitpont emphasized the startup’s aim to revolutionize the video editing landscape. He said, “Bringing efficiency to organisations working with video was just the beginning. With MXT, we can parse video at scale with unmatched speed. Now we are focused on what humans can’t do—like generate rough cuts in minutes with a simple prompt.” This underlines their ambition to automate and maximize the creative potential of media teams.

Founded in 2016 by twin brothers Fred and Philippe Petitpont, Moments Lab seeks to reshape the digital media workflow by making audiovisual content more accessible and easier to utilize. Their MXT platform enhances searchability, helping users quickly find the vital bits of footage necessary for storytelling.

The company has snagged clients like Thomson Reuters, Sinclair, Hearst, Amazon Ads, and Banijay. Its tech isn’t just about storing video; it aids in managing recordings, creating highlights, and making research far more efficient. The global demand for their service seems promising, as the platform reportedly more than doubled its recurring revenue within the last year.

Philippe Petitpont further elaborated, “Enabling teams to drill down from thousands of hours of video and glean insights about a specific topic in just seconds creates enormous value. This $24 million investment will accelerate the rollout of our agentic AI technology.”

Gökçe Ceylan, a Principal at Oxx, highlighted Moments Lab’s unique value proposition: “Moments Lab is one of those rare companies where the product actually feels like magic.” Demonstrating the power of MXT, Ceylan noted how the platform pulls insights from hours of raw footage in mere seconds.

The innovative MXT Multimodal AI can dissect video content instantly, identifying scenes, notable figures, and significant audio bits, making it a formidable tool for content creators. It also allows for user customization, tailoring output to fit specific needs and brand identities—a feature that separates it from traditional AI indexing tools.

Fred Petitpont, Co-founder and CTO, asserted the significance of quality in indexing metadata for user experience, sharing some clients’ positive feedback about MXT: “Some users tell us it’s like having an additional team member!” With such enthusiasm and traction, Moments Lab seems poised to carve out a significant niche in the competitive landscape of video discovery.

In conclusion, Moments Lab’s impressive €21 million funding round highlights its ambitions for expansion and innovation in AI video discovery. With a rapidly growing client base, a unique approach to indexing video content, and technology that automates complex tasks, Moments Lab is set to dramatically change how media teams operate. Their promising trajectory indicates further advancements in the field as they continue to refine their MXT technology and partnership strategies.

Original Source: www.eu-startups.com