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.
Unlike traditional search technologies Valossa technology is able to get relevant results from natural human language like queries.
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.
People want to create interesting content of their activities. For instance helmet cameras have spread like a wildfire. Yet there’s been only one way to get footage of yourself in action; having someone else filming you. Usually it’s either difficult, expensive or both to shoot a high quality video of yourself and share it in social media. FilmMe has a unique solution to this need. FilmMe is a patent pending automated camera system that shoots professional quality HD video of the subject without a cameraman. It tracks the movement, pans and zooms as needed and finally sends the video automatically to ones’ FilmMe account. The whole process is initiated with a press of single button. That’s easy.
The FilmMe system tracks the location of the wristband, pans and zooms the camera accordingly.
FilmMe was the highest scoring Moneytalks Investor forum winner in the history with average score of 4.53 out of 5. Prior to investment they had also secured 180k€ worth of letter of intents from prospective customers.
”FilmMe is on the verge of international breakthrough with a product that has a market potential of several hundred millions. Because the vast majority of our target market is international we wanted a professional investor, who can help us ahead also in the longer run. In addition to financing Butterfly brought valuable knowledge for instance into areas of IPRs, distribution channels and business models.” (Tapio Koivukangas, CEO of FilmMe Group)
The camera system is installed into venues, but the end users get a stylish wristband that identifies the user, allows to start and stop shooting the video and is used for automated camera control.
Butterfly invested into FilmMe because the value proposition for different actors is clear, there’s attractive business model, demonstrated market traction and a billion dollar market opportunity. Furthermore the team is well balanced mixture of technological skill and top notch marketing expertise. In addition FilmMe has all characteristics of a naturally viral product. Butterfly investment will be used to further validate the business model and establish the required metrics to leverage the valuation up for follow-on financing rounds.