AI startup Synthesia gains unicorn status after Nvidia-backed fundraise

Synthesia, a UK-based artificial intelligence (AI) startup, said on Tuesday it has raised about $90 million at a valuation of $1 billion from a funding round led by venture capital firms Accel and Nvidia-owned NVentures.

The startup’s technology helps more than 50,000 businesses including Amazon.com in creating custom AI avatars used in instructional and corporate videos.

“While we weren’t actively looking for new investment, Accel and NVIDIA share our vision for transforming traditional video production into a digital workflow,” said Victor Riparbelli, co-founder and CEO of Synthesia.