Panopto, a video learning platform based on artificial intelligence, has acquired its competitor, Ukrainian startup Elai.io, which has developed a product that converts text into video content narrated by an AI avatar. The parties did not disclose the amount or any other details of the deal.
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It is noted that Panopto will solve the problem faced by educational content designers and authors of materials after the acquisition of Elai. Traditional methods of content creation are time-consuming, while modern users require immediate access to relevant materials.
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Using generative AI, Panopto can significantly speed up and improve the efficiency of content creation. With realistic avatars that read texts in any language, integrated tests, and interactivity, teachers and experts can quickly create dynamic learning materials.
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Elai.io is a startup with Ukrainian roots, founded by Vitaliy Romanchenko, Oleksandr Uspenskyi, and Oleksiy Pshenychnyi. Launched in 2021 and headquartered in Lewes, Delaware. i
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It currently serves more than 2,000 customers worldwide across a variety of industries. The startup has already collaborated with Nvidia, Amazon, Thinkific, and Microsoft. The service works with more than 75 languages.
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In early 2022, Elai.io raised about $250,000 from Startup Wise Guys and SID Ventures. A total of $420,000 has been invested in the startup.
Panopto is an AI-powered video learning platform suitable for both universities and enterprises. The company was founded in 2007 and is headquartered in Pittsburgh with offices in Seattle, London, Hong Kong, Singapore, and Sydney.
Panopto serves more than 10 million end users and is trusted by Fortune 1000 companies and leading educational institutions, including GE, Qualcomm, Nike, the University of California, and Yale University.
