Deep Render, a startup developing AI-powered tech to compress videos on the web, today announced that it raised $9 million in a Series A funding round led by IP Group and Pentech Ventures. A source familiar with the matter tells TechCrunch that the round values the startup at $30 million, a respectable number for a five-year-old startup in light of the recent market turbulence.
Co-founder and CEO Chri Besenbruch tells TechCrunch that the fresh capital, which isn’t inclusive of a new $2.7 million grant from the European Innovation Council, will be put toward product R&D and shifting Deep Render’s customer acquisition efforts toward the U....
