Hangzhou Mogic AI Technology Co., Ltd. (“Mogic AI”) recently has announced the completion of ten millions of USD in Series A funding, Cathay Capital (凯辉基金) is the largest institutional investor, with follow-on investments from Zhen Fund (真格基金).
Mogic AI is an intelligent creative marketing platform built through leading technological capabilities, committed to reshaping the future of digital marketing with technology and creativity. Taking data product capabilities as the core to achieve the integration and efficiency improvement of media and creativity, providing digital marketing solutions for brands, helping brands improve the effectiveness of digital assets and achieve high-quality and efficient growth.
According to Mogic AI, the company has launched products and services such as Mogic Content AI Studio and Mogic Copilot. Providing customized high-end AI video services to users. While providing precise marketing to users with different needs, optimizing video effects, improving production efficiency, and reducing costs. In the future, with the continuous development of AI technology, Mogic Copilot will continue to iterate and intelligently solve more customized needs of users.
According to Global Information, the global AI in marketing market was valued at USD 12.64 billion in 2022 with a compound annual growth rate (CAGR) of 26.6% over the forecast period 2023-2030. The AI in the marketing market is being driven by factors such as increasing investment in AI technology, rising spending on digital marketing and increasing adoption of AI on digital platforms for giving customized experience to customers.
In addition to Mogic AI, several companies are competing in the AI marketing market，such as IFlytek (科大讯飞) and LeyanTech (乐言科技) in China, Affectiva, Amplero, Cognitiv and GumGum in the United States, InMobi in India, Intango in Israel, and Heuritech in France.
Hai Yang, founder of Mogic AI, stated: "The future development of Mogic AI has identified two main directions. One is continuously optimizing scenarios, collaborating with brands, and further improving the accuracy and richness of models to meet the challenges of global competition; the other one is to continue to improve its own capabilities, strengthen industry understanding, and provide customers with better quality services.”
This round of financing for Mogic AI was exclusively invested by Cathay Capital (凯辉基金), with follow-on investments from Zhen Fund (真格基金). This round of financing funds will mainly be used for investment in intelligent algorithms, model development, and other technologies in the field of AI video, to improve product capabilities.