Hungarian-founded Colossyan raises＄22M in Series A round

Colossyan, a Hungarian-founded text-to-video startup, has closed a $22 million Series A funding round. The investment was led by Lakestar with participation from LaunchHub, Day One Capital, and Emerge Education.

• Launched in 2022 by Dominik Mate Kovacs, Kristof Szabo, and Zoltan Kovacs, Colossyan develops a platform that allows users to create videos from text using AI. Using a text prompt, the user can upload presentations, documents, or audio to create a certain video. The solution is focused on Learning and Development (L&D) creators.
• Colossyan’s solution has already attracted 2,000 clients across 46 countries, including Porshe, Vodaphone, Paramount, and BMW. According to the startup, its Learning and Development text-to-video technology, powered by advanced Generative AI, reduces video production time from weeks to under 30 minutes.
• The round was co-led by Lakestar, a European VC firm that invests in tech companies, along with continued support from existing investors such as LAUNCHub, Day One Capital, Emerge Education, and various angel investors.

Colossyan is dedicated to democratizing knowledge with affordable, interactive video creation, rapidly responding to consumer feedback. Our partnership with Lakestar is a significant step in revolutionizing video production and doing so quickly to meet the growing demand for interactive learning,

Dominik Mate Kovacs, commented on the investment.

Almost a year ago, Colossyan raised the first $5 million investment for its Series A round.

The current investment will help the startup to further develop and expand its solutions, continuing to offer tailor-made solutions in digital learning and communication.