Adobe Makes Strategic Inroads into Indian Startup Ecosystem with Rephrase.ai Acquisition

• ByStartupStory     |    November 22, 2023

Adobe, headquartered in San Jose, has made its inaugural Indian tech startup acquisition by purchasing Rephrase.ai, a Bengaluru-based AI company specializing in video creation technology powered by generative AI (GenAI). 

The specific financial terms of the deal have yet to be disclosed. The acquisition is seen as a strategic move by Adobe to enhance its video-editing platform.

Rephrase.ai, founded in 2018, has carved out a niche in GenAI video and audio technology, notably with text-to-video generator tools. Over the years, the startup amassed a total funding of $13.9 million, with a significant $10.6 million secured in its last funding round in September of the previous year.

Ashray Malhotra, Co-founder of Rephrase.ai, confirmed the acquisition via a LinkedIn post, heralding the company’s integration into a prominent tech entity, with references pointing directly to Adobe. This development was initially reported by The Economic Times.

The acquisition marks a pivotal moment for Rephrase.ai, as its innovative expertise in GenAI-driven video and audio technology is expected to fortify Adobe’s video-editing capabilities, potentially ushering in new dimensions in the realm of video creation and manipulation.

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