General Catalyst led the all-equity round for the Toronto-based startup, with participation from new investors Creative Artists Agency (CAA), CoreWeave and Comcast Ventures as well as past backers Khosla Ventures and YCombinator. (The Logic)
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General Catalyst led the all-equity round for the Toronto-based startup, with participation from new investors Creative Artists Agency (CAA), CoreWeave and Comcast Ventures as well as past backers Khosla Ventures and YCombinator. (The Logic)
Talking point: Moonvalley sells access to an AI model and software tools that filmmakers and studios can use to generate video for movies and TV shows. The firm has framed its technology as more suited to the entertainment industry’s needs, because it gives users more control over clips, and because the firm licensed the content on which its system was trained. Major studios have been testing the model, called Marey, since March. Moonvalley currently has 50 staff, with about a dozen based in Canada. The firm said the new financing brings its total venture funding to US$154 million, after it announced a US$70 million raise in November. Moonvalley will use the new money to hire, add more features and license more content.
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