InVideo, an Indian video editing platform, has recently launched a new feature called InVideo v3.0, which is powered by generative AI. This feature allows users to create video clips using text prompts in various styles like live-action, animated, or anime-style. The resulting videos can be exported in formats suitable for platforms like YouTube, Shorts/Reels, and LinkedIn. Users also have the option to edit these videos by requesting changes or additions to specific parts of the clip.
Unlike developing its own model, InVideo is utilizing a pipeline of different models to parse prompts and generate videos. Sanket Shah, the co-founder and CEO of InVideo, mentioned that there is no theoretical limit to the length of the generated videos, but users will be restricted by the number of generation credits they have. To cover the costs of this new feature, the company has introduced a paid plan called Generative Plan, where users can generate 15 minutes of video for $120 per month. Additional minutes can be purchased for $8 to $10 per minute on any plan.
In the past, InVideo released a prompt-based video generation feature that used licensed stock footage and photos to create videos. However, the new AI-powered tool is capable of generating longer videos. Despite this improvement, some users may notice inconsistencies in the style and quality of the videos mid-way through. InVideo has acknowledged this issue and aims to enhance the tool’s generation capabilities over time.
InVideo is entering a competitive space where other video editing tools like Captions, D-ID, and Lightricks have also introduced AI-powered video generation features for different market segments. Shah highlighted that InVideo sets itself apart by offering a simpler interface for creating AI-generated videos, targeting individuals, creators, and small businesses rather than larger agencies and teams.
With 4 million monthly active users and 7 million videos generated in the last 30 days, InVideo is gaining traction in the market. The company’s decision to incorporate AI into video creation aligns with the trend of video editing apps aiming to broaden users’ creativity and potentially increase revenue through generative AI features.
Having raised $35 million in its last funding round and with $25 million still in the bank, InVideo is financially stable. Shah expressed confidence in the company’s growth, anticipating revenues of $50 million this year. Looking ahead, InVideo plans to explore partnerships to further enhance its offerings and expand its reach in the video editing industry.
