AI Video Transformation Start-Up Mago Raises $1.57M In Pre-Seed Round For WarpFusion Spin-Off

deadline.com:

AI video transformation and stylization start-up Mago has secured a $1.57M (€1.5M) pre-seed round from Atlantic Labs, a leading European first-round investor headquartered in Berlin.

The Paris-based company said the investment will enable it to expand its team and accelerate development, with a market launch planned for early 2025. The start-up said it aimed to tap into the rapid growth of the video production market, driven by creative industries including animation, film, gaming and social media.  “Our technology can instantly transform live footage into animation, oil paintings, or any visual style while maintaining professional-grade quality and consistency,” said Mago co-founder Alvaro Lamarche Toloza.

The new tool builds on open-source video style transfer project WarpFusion, which was created by Mago co-founder Aleksandr Spirin, and has generated more than 150 million views on social media.

Mago says its new tool will simplify pipelines and bring down production costs as well as offer more precision and control than current generative AI solutions being used for rapid iteration and style experimentation.