With the rapid development of generative AI technology, more and more companies are using these technologies to create product promotional videos. Recently, Avataar, a startup supported by Peak XV and Tiger Global, released a new tool called "Velocity" that can directly generate videos based on product links. The launch of this innovative tool will make video production easier and even require no expertise.
Avataar founder Sravanth Aluru, who worked at Microsoft and Deutsche Bank, founded the company in 2015. Initially, Avataar focused on providing interactive experiences, AI-powered images and 3D models for e-commerce. Now, Avataar hopes to use AI technology to help brands generate videos, especially when faced with expensive traditional video production, AI-generated videos will be particularly important.
Avataar said that despite the higher conversion rates of 3D models and interactive experiences, videos are more interactive and communicable, so videos are undoubtedly a more advantageous choice in the overall marketing strategy. As early as February 2024, Avataar began testing its AI video generation tools with customers, but it still required human participation at that time. Now, after months of testing, Velocity tools have been fully automated, which can greatly improve the productivity of product videos.
Currently, well-known brands such as HP, Victoria's Secret, and Lowe's are using Velocity tools to generate videos of a variety of product. Aluru notes that Velocity can generate great promotional videos for products that aren’t strategic enough to produce videos without budget, which will significantly improve customer experience and improve conversion rates.
In addition, Avataar also provides an API to facilitate enterprises to integrate video generation tools into their own platform and automatically generate videos for products. Aluru stressed that Avataar's tools ensure that the product display in the video is free of flaws by collecting large amounts of 3D rendering data. Their models are able to understand the properties of different categories of products to achieve better storytelling skills that ultimately drive purchases.
During the video production process, Avataar focuses on brand safety and product accuracy to ensure that the generated content meets customer requirements. In response, investor Amir Konigsberg said that although multiple companies have already competed in this field, Avataar has the potential to stand out through effective innovation and quality control.