US-based film production technology developer Arraiy received more than $10m on Tuesday in a series A round co-led by SoftBank Ventures, a corporate venture capital subsidiary of telecommunications group SoftBank.
The round was co-led by VC firm Lux Capital and included Dentsu Ventures, an investment vehicle for marketing firm Dentsu, as well as wealth management firm Cherry Tree Investments, VC group IDG Capital and VC fund CRCM Ventures.
Founded in 2016, Arraiy has developed real-time video tracking technology that exploits machine learning and computer vision to help production houses insert special effects more easily.
The series A proceeds will be used to recruit additional staff and expand Arraiy’s product range as the startup works toward being able to deliver a full artificial intelligence-based production workflow.
Arraiy had previously secured $3.9m in seed funding from unnamed investors in January 2017, according to a securities filing.