Ittybit secures £1.5m funding to democratise AI media.
Ittybit, a revolutionary developer tools company based in Salford, Manchester, UK, has recently secured a £1.5m oversubscribed funding round. This funding round was led by Mercuri and Sure Valley Ventures, two prominent investors in the tech industry. With this financial boost, Ittybit aims to democratise access to world-class AI-led media pipelines for developers globally, providing cutting-edge APIs and tools to simplify the handling of large video, image, and audio files.
The demand for high-quality media management solutions is at an all-time high, with video content dominating consumer internet traffic.
Ittybit's innovative technology, which includes state-of-the-art computer vision models and AI-based compression tools, has already shown impressive results for early customers. Strength:Lab, an online PE lessons provider, reported an 80% reduction in bandwidth costs, while a large podcast successfully transcribed over 1,000 episodes from their back catalogue. Ittybit has proven its scalability and reliability by managing over 100,000 images and 5,000 hours of user-generated video for its early adopters.
Paul Williams, the founder of Ittybit and a seasoned industry expert with 20 years of experience in video production, expressed his excitement about the new funding round. With support from investors like Mercuri and Sure Valley Ventures, Ittybit is well-positioned to accelerate its mission of empowering developers with cutting-edge media management tools. The company's focus on simplifying complex media workflows and making them affordable for all developers aligns with the vision of creating a more innovative and accessible digital media landscape. Ittybit's success story underscores the growing significance of AI-led solutions in revolutionising the way media files are managed and delivered globally.
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