AI technology provider Media Distillery has secured €3 million in funding from a group of TV executives and entrepreneurs.
The Amsterdam-based company, which works to understand what’s inside video, said the funding would be used to expand internationally and extend its analysis technology platform.
In 2020, Media Distillery’s Deep Content Understanding technology analysed over 7.5 million hours of video content. It analyses video content to determine relevant topics, events or specific time markers in real-time.
Roland Sars, CEO of Media Distillery said he was excited about the capital injection: “The commercial potential of creating a ‘sticky’ video environment is enormous when consumers are engaged to a video platform that is personalized to one’s interests and when they can discover relevant content in the blink of an eye.”
Geert Vos, CTO and Founder of Media Distillery added: “Our team is working hard every day to make an impact on the viewing experience of millions of consumers worldwide and this funding from leaders within our industry shows us we are on the right track, is a boost to our growth ambitions and stimulates us to continue innovating.”
Media Distillery technology is globally used by market-leading video platform providers such as Telenet (Belgium), YouSee (Denmark), Eutelsat (France) Proximus (Belgium) and VTR (Chile).