Ukrainian AI app studio Reface secures €15.2 million in non-dilutive user acquisition funding

Kyiv-based Reface, a start-up that creates AI devices to equip material production, has actually protected EUR15.2 million ($ 18 million) in non-dilutive customer procurement moneying from Singapore’s PvX Allies.

PvX Allies is a monetary solutions and information knowledge system for customer applications. It co-invests in a business’s sales and advertising spending plan, and in return, obtains a share of the earnings produced by freshly obtained customers, based on a predefined cap.

According to Anton Volovyk, co-CEO of Reface, the funding will certainly be utilized to sustain the following stage of development for its AI-powered customer applications throughout creative thinking, health and wellbeing, and health and wellness.

Established In 2018, Reface creates AI-native devices in material production and way of living classifications. It initially obtained extensive interest after Elon Musk posted his face swap with the ” made with Reflect” watermark on X.com. Reface application was released in 2022 and was initially called Doublicat.

Its item profile consists of Reface, a mobile application that permits customers to change faces in video clips and images, voice-over material, and produce AI pictures from several selfies. Restore is a mobile application that permits customers to quickly modify and stimulate photos, consisting of images, memes, and art pictures. Change permits customers to transform the design of photos and video clips. Various other items in the profile consist of unboring.ai, Ink AI, Letsy and Memomet. According to the firm, its items have actually jointly been downloaded and install greater than 300 million times.

The firm asserts that its applications have actually been utilized by celebs such as Britney Spears, Dua Lipa, Justin Bieber, and Snoop Dogg. It has actually likewise teamed up with brand names, consisting of BMW, HALO, JBL, Prime Video Clip, Toyota, and Universal.

Reface іs backed by Andreessen Horowitz, Ilkka Paananen, Chief Executive Officer of Supercell, David Helgason, creator of Unity Technologies, Mobility scooter Braun, handling companion of TQ Ventures, Adam Leber, recognized for being the supervisor of Britney Spears and Miley Cyrus, along with an Uber financier, and Roosh, a Kyiv-based technology firm and financial investment team concentrated on AI and ML.

In Might 2022, the firm released the Reface Fund to cover the altruistic requirements of Ukrainian residents and protectors, and has actually contributed EUR424.2 k ($ 500k).

The article Ukrainian AI app studio Reface secures €15.2 million in non-dilutive user acquisition funding showed up initially on EU-Startups.