(Reuters) -Generative AI studio Promise, backed by venture capital firm Andreessen Horowitz, said on Tuesday that it had partnered with Alphabet’s Google to use its AI technologies.
The startup has also expanded its investor base, with new backing from Google’s AI Futures Fund, Crossbeam Venture Partners, and others, the company said in a blog.
Former News Corp President Peter Chernin’s firm, North Road Company, a co-lead investor, has invested additional capital in this round.
Promise will integrate Google’s AI technologies into its production pipeline and workflow software, MUSE, while also collaborating with researchers from DeepMind.
Hollywood studios have been exploring ways to incorporate GenAI tools to reduce costs and speed up the content creation process.
Founded by Fullscreen CEO George Strompolos, former YouTube executive Jamie Byrne and AI artist Dave Clark, Promise aims to capitalize on the GenAI boom and is working with Hollywood stakeholders to develop a multi-year lineup of content.
Production of its first feature-length film is slated to begin this year.
(Reporting by Juby Babu in Mexico City; Editing by Mohammed Safi Shamsi)
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