Minute Media, backed by BlackRock and Goldman Sachs, has acquired VideoVerse, an Indian AI startup specialising in sports highlight extraction. VideoVerse's flagship product, Magnifi, employs AI to automatically detect key moments in sports footage, create real-time highlights, and distribute short-form video content. Magnifi utilises computer vision, natural language processing, and machine learning to analyse visual and audio cues. It also integrates GenAI features like multilingual subtitling and automatic thumbnail generation.
Minute Media intends to integrate VideoVerse's capabilities to provide a full-stack solution for content creation, distribution, and monetisation. This acquisition will allow Minute Media to strengthen its partnerships with sports teams, leagues, and federations. Existing Magnifi clients can leverage Minute Media's distribution and monetisation solutions. Minute Media plans to further expand its AI footprint in India through continued investment.
VideoVerse's AI-driven platform helps content owners reduce video production costs and time by approximately 70% and 90%, respectively. The company's SaaS platform caters to various sectors, including OTT players, sports clubs, leagues, marketing agencies, and e-gaming platforms.
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