Moments Lab, a Paris-based AI startup focused on revolutionizing video production, announced on June 3 that it raised $24 million in Series B funding to expand its technology that automates Hollywood editing workflows for companies like Amazon (NASDAQ:AMZN), Hearst, and Warner Bros. Discovery (NASDAQ:WBD).
The fresh capital injection brings the company’s total funding to $37.4 million, Business Insider reports. According to Moments Lab, the round was led by Oxx, with additional support from Orange Ventures, Kadmos, Supernova Invest, and Elaia Partners. Founded in 2016 by twin brothers Philippe and Fred Petitpont, Moments Lab helps entertainment companies accelerate video production using its patented AI technologies.
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Agentic AI Tools Redefine How Hollywood Edits Video
Moments Lab’s flagship product, MXT-2, uses multimodal AI to instantly break videos into meaningful scenes by identifying who appears, what is happening, and where it’s taking place. The company says it also extracts the most relevant soundbites from interviews, speeches, and press conferences with greater efficiency and precision than human editors.
Its latest development, an agentic AI tool, turns raw video footage into rough cuts using simple prompts, dramatically cutting down manual editing time. According to Business Insider, this new tool is currently being tested by Hearst, and executives say its most promising application is in the fast-paced world of reality TV.
Philippe Petitpont told Business Insider that media companies are under pressure to meet content demands from streamers like Netflix (NASDAQ:NFLX), Amazon Prime Video, and Peacock, while reducing production costs at the same time. Moments Lab’s solution helps them meet those demands without compromising output.
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“The demand from Netflix, Amazon’s Prime Video, Peacock, is so strong that production companies need to produce more content than ever before, and they don’t have more money to produce a show,” Petitpont told Business Insider. “Being able to produce at lower cost is more important than ever. That’s where they’re interested in using new approaches.”
Moments Lab is Monetizing Unused Footage
The company’s AI model has been trained on 1.5 billion assets, including open-source data and content from participating partners in its research consortium, Business Insider says. According to Petitpont, clients have doubled their social media revenue by using the platform to repurpose archival footage.
Moments Lab aims to empower brands to extract more value from their content libraries through AI-generated trailers, highlight reels, and even full-length documentaries. According to Business Insider, one financial media client reportedly plans to reduce the number of human editors as a result of the automation capabilities provided by the platform.
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Scaling with Compliance in a Rights-Protected Industry
The company operates in a sector that remains cautious about copyright and labor rights. One of the biggest challenges in client onboarding, Petitpont told Business Insider, is convincing legal teams that their intellectual property will not be used to train the AI model. Moments Lab ensures all training data comes from legally cleared sources, including media companies involved in its research partnership program.
Moments Lab says that it plans to invest the fresh capital into expanding its U.S. operations and further developing its agentic AI suite. While the company has not made predictions about industry-wide trends, it says that its tools address the rising demand for efficiency across video production workflows.
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This article Moments Lab Secures $24M To Transform Hollywood Video Production With Agentic AI For Amazon Ads, Hearst And Warner Bros. Discovery originally appeared on Benzinga.com
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