Text-to-Avatar Platform Backed by Nvidia Reaches $1 Billion Valuation

London-based digital media platform Synthesia, which allows users to create AI-generated videos, has raised $90m in a funding round led by Accel and featuring Nvidia as a strategic investor. Synthesia's software enables users to create digital avatars to deliver presentations and training videos, with the aim of eliminating the need for cameras, microphones and actors. The company has created animated avatars based on real-life actors who speak in front of a green screen. Synthesia has worked with 35% of the Fortune 100 and counts Tiffany's, IHG and Moody's Analytics among its enterprise clients.