Jared Leto is getting behind a startup with a disruptive vision: to use artificial intelligence to change the way videos are produced.

‍What’s happening:‍

• Artificial intelligence video production startup Captions has raised $60M USD in a Series C financing round
  
• The round saw participation from multiple legendary Silicon Valley venture capital funds including a16z, Sequoia Capital, Kleiner Perkins and actor Jared Leto
  

The big idea:‍

• Captions has built a video production technology app which allows users to seamlessly create custom videos with avatars that are generated by artificial intelligence
  
• Captions is also capable of leveraging artificial intelligence to create custom graphics and animations
  

By the numbers:‍

• Captions currently has 10M users creating videos on their platform
  

Why it matters:‍

• Large media companies have recently begun to use Captions for video production and content creation, including Disney (NYSE: DIS) owned ESPN
  

Going deeper:‍

• Jared Leto has been a prolific angel investor in technology companies, previously backing startups such as Uber (NASDAQ: UBER), Robinhood (NASDAQ: HOOD) and Reddit (NASDAQ: RDDT)
  

The intrigue:‍

• Kleiner Perkins recently raised billions of dollars for two new venture capital funds for the specific purpose of deepening their bets on disruptive artificial intelligence startups

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