- Toronto-based Viggle AI raises $26 million CAD ($19 million USD) in Series A funding.
- The platform uses AI to generate videos from text and image prompts.
- Viggle gained viral attention with videos of Joaquin Phoenix’s Joker replacing Lil Yachty’s stage entrance.
- Rapid growth led to a community of over 4.3 million Discord members.
- Funding round led by Andreessen Horowitz (a16z) and Two Small Fish Ventures (TSFV).
- Funds will be used to enhance AI capabilities, add new features, and improve user experience.
- Viggle’s proprietary JST-1 technology focuses on controllability and lifelike animations.
Main AI News:
Toronto-based startup Viggle AI has raised nearly $26 million CAD ($19 million USD) in a Series A funding round to develop its groundbreaking platform further. This platform utilizes generative AI to create videos from basic text and image prompts.
Since its launch in March, Viggle’s app has quickly captured widespread attention. It gained significant traction after videos featuring Joaquin Phoenix’s Joker character, seamlessly replacing rapper Lil Yachty’s stage entrance at the 2021 Summer Smash Festival, went viral online. This trend evolved into a popular meme format by April, with users eagerly using Viggle’s technology to insert various celebrities and characters into the same scene.
TSFV’s Eva Lau described the company’s rapid growth as “whiplash-inducing.” The viral success has enabled the early-stage startup to build a robust community of over 4.3 million members on Discord and attract new investments from major players such as Silicon Valley’s Andreessen Horowitz (a16z) and Toronto-based Two Small Fish Ventures (TSFV).
In an interview with BetaKit, Hang Chu, Viggle’s co-founder and CEO, expressed his enthusiasm for the platform’s viral growth, noting that it contributed to the relative ease of closing this funding round.
The Series A round, finalized earlier this month, was led by a16z with participation from TSFV and other undisclosed investors. While the company’s valuation remains confidential, this latest funding round brings Viggle’s total capital to over $27 million CAD ($20 million USD). The new funds will enhance Viggle’s AI capabilities, introduce additional features, and improve the user experience.
Chu emphasized that while many text-to-video generators currently exist, they often rely on pixel-based models that are difficult to control and edit precisely. Viggle distinguishes itself by focusing on controllability, utilizing its proprietary JST-1 technology—a video-3D foundational model that incorporates physics-based knowledge to create more realistic character movements and expressions. With Viggle, users can input text and existing media to specify a character and motion, allowing the AI to generate a customized animated video based on these requests.
Conclusion:
Viggle AI’s rapid success and substantial funding signal a significant shift in the AI-driven content creation market. The company’s focus on controllability and lifelike animation sets it apart from competitors, positioning it to disrupt the text-to-video space. With strong backing from major investors and a growing user base, Viggle is poised to lead the next wave of innovation in digital media, potentially reshaping how content is generated and consumed across various platforms. This development could accelerate the adoption of AI tools in creative industries, driving further investment and competition in the sector.
