Austrian Round2 Capital invests in Swedish AI video content creation platform Phyron
Round2 Capital has made a seven-figure investment in Stockholm-based Phyron, AI-based video content creation platform. The investment will accelerate development of the technology and growth of the team.
- Founded in 2017, Round2 Capital is a Vienna-based investment firm with €135 million under management. The firm targets European scale-ups and companies with digital and sustainable business models.
- Round2 Capital is active in several European countries, with a focus on Germany, Switzerland, Austria, and the Nordic countries. To date, Round2 Capital has invested in 32 different software and technology startups.
“We are excited to partner with the passionate and motivated team at Phyron as well as with the existing investors. Given sector dynamics and Phyron’s current development trajectory, we expect to see more opportunities to contribute towards Phyron’s financing needs as they continue to scale up,”Jan Hillered, co-founder and managing partner of Round2 Capital, commented on the investment.
- Phyron was founded by Mattias Kellquist and Johan Sundstrand in February 2019. The startup offers AI-based video engine that can create an unlimited number of studio videos from existing content in real-time. The software renders, hosts, and streams all video files with no human input on websites, marketplaces, social media, and paid ads.
- Since its launching, Phyron’s videos have been viewed over 250 million times. The company claims that ads using videos created with Phyron can receive on average over 50% more visits and cars are sold three to five days faster.
- The exact amount of investment was not disclosed, but it will be used for the further development of its AI and automation technology, grow the team, and attract new customers.