Current video search technologies are based on keywords and thin layer of manually generated metadata. Valossa enables automated real time scene level video metadata generation (concepts, people, emotions, objects etc.) as well as natural, truly descriptive, searches, such as “Movies with Sean Connery in red pants”. This is a paradigm shift on search technology that brings computing closer to humans greatly improving human computer interaction and even allowing entirely new use cases for instance for voice controlled user interfaces and as such a billion-dollar market opportunity.
Prior to Butterfly’s investment Valossa had filed the patents on key technologies, piloted the technology with YLE (the national broadcasting company of Finland), analyzed since 2010 more than 300k TV programs and 45k English language movies (the technology demo of movie search is available at www.whatismymovie.com).
“The rise of voice operated systems brings a huge opportunity to develop more intelligent conversational search technology. We at Valossa use Artificial Intelligence to create scene-level video descriptions and facilitate natural deep content discovery. The financing from Butterfly Ventures is one of the key ingredients on our growth path. However, it’s not just the money, they share our vision and we appreciate especially the way they offer valuable, hands-on support. They’re truly front line players.” (Mika Rautiainen, CEO of Valossa)
Butterfly invested into Valossa because they have an elegant solution for a problem that has a billion-dollar market opportunity. Furthermore, their team is ambitious and capable of executing at high pace, it’s an excellent combination of tech and business, including several PhDs. Butterfly’s investment will be used to validate the business model and securing the first few paying customers.