Avataar launches new AI video generation tool to help product promotion

With the rapid development of generative AI technology, more and more companies are beginning to use these technologies to produce product promotional videos. Recently, Avataar, a startup backed 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 does not even require professional knowledge.

Avataar's founder Sravanth Aluru, who previously worked at Microsoft and Deutsche Bank, founded the company in 2015. Initially, Avataar focused on providing interactive experiences, AI-driven images and 3D models for e-commerce. Now, Avataar hopes to use AI technology to help brands generate videos, especially when faced with costly traditional video production, AI-generated videos will be particularly important.

Avataar said that although 3D models and interactive experiences have higher conversion rates, videos are more interactive and spreadable, so they are undoubtedly a more advantageous choice in the overall marketing strategy. As early as February 2024, Avataar began testing its AI video generation tool with customers, but at that time human participation was still required. Now, after months of testing, the Velocity tool is fully automated and can significantly improve the productivity of product videos.

Currently, well-known brands such as HP, Victoria's Secret, Lowe's, etc. are using Velocity tools to generate a variety of product videos. Aluru points out that Velocity can generate great promotional videos for products that are not strategic enough and don’t have the budget to produce videos, which will significantly improve the customer experience and increase conversion rates.

In addition, Avataar also provides APIs to facilitate companies to integrate video generation tools into their own platforms to automatically generate videos for products. Aluru emphasized that Avataar's tools collect large amounts of 3D rendering data to ensure that the product presentation in the video is flawless. Their model is able to understand the attributes of products in different categories to enable better storytelling and ultimately drive purchases.

During the video production process, Avataar focuses on brand safety and product accuracy to ensure the content generated meets customer requirements. In this regard, investor Amir Konigsberg said that although there are already many companies competing in this field on the market, Avataar has the potential to stand out through effective innovation and quality control.