WayneHills Ventures (CEO Lee Su-min) participated in Try Everything 2021 held at the Shilla Hotel in Seoul from Sep. 15 (Wed) to 17 (Fri).
Founded in 2019, WayneHills Ventures is an AG (Artificial General Intelligence) software company that helps the general public to automatically convert text data into video content using AI algorithms freely.
A company staff from WayneHills Ventures said, “Our company discovered the global trends showing rapid growth in the digital content market while the print and book markets are going low, and developed our AI automatic video production software WayneHills A.I to solve the fatigue of consumers about reading text information.”
He added, “Companies spend hundreds of billions of won every year to make printouts, but by using our services, we can reduce wasted print and create and provide content that is intuitive and easily accessible to consumers.”
The major feature of WayneHills Ventures service is the ability to summarize text data of 300 pages or more into 300 words of core sentences and keywords by using NLP and machine learning technology. The matching feature is merging and calculating image, video, sound source, and keyword into one video content.
Also, it is equipped with an editing function to allow customizing and editing of images or additional text owned by customers (video producers), and is automatically distributed to social media like YouTube, Facebook, and Instagram so that it can be used for publicity and advertising purposes.
There is no need for an existing art director or designer to produce a video using a video production tool or to design and produce video content directly by an AI algorithm. Therefore, as long as the customer has only text material, it will be possible to produce trendy and interesting video contents using only 1/10 of the time or cost to produce artwork.
The company staff said, “These days, when the consumption of video content is rapidly increasing, people favor that it produces the text that individual companies have into a more intuitive and easy to understand form, which is video. We have great competitiveness in that respect.”
Based on such competitiveness, WayneHills Ventures achieved sales of 200 million won in 2019, 860 million in 2020, and 4.1 billion won in the first half of 2021. As of September 2021, the accumulated investment amount was 5.3 billion won, currently in Series A.
Regarding future plans, he said, “We want to expand WayneHills A.I from B2B to B2C business by upgrading it. We are going to help users to create video contents with our service on the Internet, and also are planning to build a service platform that can generate revenue by building a hub for content trading between platforms. Also, we plan to advance into overseas markets such as the United States, China, and Singapore through overseas pipelines of large corporations.”
Seoul Startup Hub, the major startup institution of Seoul, established a network with foreign governments like the Ministry of Science and Technology of Vietnam to provide localization fostering program for promising companies to better advance into the global market.
The results were announced at the 2021 global startup festival Try Everything. In Try Everything, global startup experts from more than 15 countries, global conglomerates, VCs, ACC, and startup specialized organizations are operating a total of 91 scale-ups and startup programs for companies interested in entering the global market.→ Go to Try Everything 2021 news special page