Aug X Labs, a New York-based AI video technology startup, raised $1 million in pre-seed funding to use AI to democratize video creation by content creators.

I interviewed Jeremy Toeman, Founder and CEO, who has a long history of building consumer apps. He built an AI-assisted visual storytelling service that saves time and money for creators.

The company is building an AI-based visual storytelling platform that automatically transforms text or audio prompts into compelling, purpose-driven videos that convert audiences. Its platform allows users to automatically augment their video creations using open or licensed media (photos, short clips, etc.), generative media (AI Art), and owned media.

Aug X Labs' initial investors and advisers include Yohei Nakajima (Untappd.VC), Noah Gale (Co-Founder, Tribe AI), Marc Whitten (SVP & GM, Create @ Unity), Alanna Gregory (Crosscut VC), David Beck (Brightcove), Ben Parr (Octane.AI), Rahim Fazal (CEO of SV Academy/x-Oracle), Jesse Redniss (Qonsent), Avner Ronen (founder, Boxee), Kevin Conroy, Rob Hoffer, Ryan Bricklemyer, Deep Banerji, Scott Ryan, and others.

• Founded January 2022
• $1M raised to date
• 9 staff and 3 contractors
• Pre-revenue
• Engage investors early and be prepared

Jeremy Toeman’s LinkedIn: https://www.linkedin.com/in/jtoeman/

SaaS Fundraising Story: https://www.thesaasnews.com/news/aug-x-labs-raises-1-million-in-pre-seed-round

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