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Indian video editing platform InVideo has introduced a new feature powered by generative AI, allowing users to create video clips using prompts. This release, named InVideo v3.0 and supported by investors like Tiger Global and Peak XV, enables users to generate videos in different styles such as live-action, animated, or anime, and export them in formats suitable for platforms like YouTube, Shorts/Reels, and LinkedIn.
Using a combination of models, InVideo has developed this feature without a specific model of its own. According to Sanket Shah, the co-founder and CEO, there is no set limit to the length of the generated videos, but users will be restricted by the number of generation credits they have. To cover the costs of this new feature, the company has introduced a paid plan called Generative Plan, offering 15 minutes of video generation for $120 per month.
While last year’s version of the app could only patch together licensed content, the new tool can create videos from scratch, although some inconsistencies in style and quality may be noticed. InVideo aims to enhance the tool’s generation capabilities over time.
In a market where other AI-powered video editors like Captions, D-ID, and Lightricks already exist, InVideo stands out with its user-friendly interface catering to individuals, creators, and small businesses. With 4 million monthly active users and 7 million videos generated in the last 30 days, the company’s approach to using AI for video creation aligns with its competitors’ strategies to expand users’ creativity and potential spending.
Having secured $35 million in funding in 2021 from investors like Greenoaks, Tiger Global, and Peak XV, InVideo is on track to reach $50 million in revenues this year. With plans to find the right partner for future growth, the company’s ambitious strides with InVideo v3.0 reflect its dedication to innovation in the video editing space.
