Adobe acquires AI startup ‘Refresh AI’: This Bengaluru based startup, the company provides the feature of video generation from text.
American software company Adobe has acquired Bengaluru-based AI startup ‘Rephrase.ai’ (Refresh AI), an artificial intelligence powered video creation platform. Shivam Mangala, co-founder of ‘Refresh AI’, gave this information on social media platform X.
He wrote, ‘Exciting news! Refresh AI has been acquired by a creative tech company, ushering us into a new era of generative AI. Addressing his team, Shivam Mangala wrote, ‘This is your success, not anyone else’s.’ Both the companies have not given any information about the valuation at which Adobe has acquired Refresh AI.
Refresh AI employees will get jobs in Adobe
According to the Economic Times, most of the employees of Refresh AI are part of this deal, in which they will get jobs at Adobe. At the same time, co-founder Mangala wrote in X, ‘As soon as we start a new chapter in a big organization, the possibilities become endless. I’m excited to see what our team will create for the world of generative AI. The future is creative and bright.
Adobe is constantly looking for fresh talent and high quality innovation.
Speaking to Moneycontrol, an Adobe spokesperson said that Refresh AI has a good track record of both inorganic and organic innovations. We are constantly looking for fresh talent and high quality innovation to enhance value for our stakeholders.
Adobe had announced its entry into the generative artificial intelligence industry in March this year. The company showed a glimpse of its generative AI-to-video capabilities at Adobe Max, its annual creativity conference, last month.
