View this email in your browser

Welcome to our newly designed Remagine Ventures newsletter, where we provide monthly insights and analysis on our portfolio companies, investment trends, and venture capital news in our sectors. In this edition, we take a look at the rising trend of Generative AI, and the impact it can make on content creation and task automation. 
Eze, Kevin, Amit and Micky

What Generative AI means for the future of content

'Generative AI' is described as "unsupervised and semi-supervised machine learning algorithms that enable computers to use existing content like text, audio and video files, images, and even code to create new possible content". 

In the last few months we've seen a number of advancements in text to image generators, enabling users to create art from text prompts: Open AI's Dall-e 2, Midjourney and Stability, an open source solution. While the technology showed promise and created a sense of 'magic' for users, it was more 'playful' rather than 'useful'. GPT-3, the Large Language Model (LLM) for generative text, has been in development for years, but was not made available for public use.

That changed last week with the launch of ChatGPT, a new generative AI tool released by Open AI, enabling users to 'converse' with AI using natural language. Users can write a text prompt or a question and receive email drafts, college level essays and long form blog posts. ChatGTP can also tell jokes, write poetry and even code. With the hype at its peak, ChatGPT is even being talked about as a possible replacement for Google search. Why sift through links if I can get the answer crafted? 

While it shows real potential, ChatGPT has a number of limitations. It can struggle with simple math, deliver factually wrong answers very convincingly and in some cases can be exploited for malicious intent, like finding vulnerabilities in smart contracts. ChatGPT's answers are based on scraped Internet data (up to 2021), which means it's not yet 'connected to the live Internet' and can't help in certain use cases. It's also difficult for startups operating in this space to create real defensibility as most are built on the same core APIs. And finally, there are open questions about the use of training data (for text or art) without referencing and credit to the source. OpenAI's Sam Altman said it's working to fix these issues. 

Nevertheless, at Remagine Ventures we believe that in the long run Generative AI tools will exist for every role in the company (coding, marketing, recruiting, sales, finance, etc) and ultimately every vertical, from Saas to gaming. They won't replace humans, at least not right away. In the same way we use Grammarly to write better emails, we'll have a set of tools to help us with task automations at work.

We already invested in two startups in the space. HourOne, the text to video company based on real human characters (in 2019), and our latest investment, Munch which uses AI to automatically create highlight clips and video overlays (Oct 2022). In addition, several of our companies are exploring how they may leverage Generative AI to improve their user experience. 

We're excited about the pace of innovation in this space and what it means for the future of content creation in gaming, entertainment, populating the Metaverse with 3D content and more. We plan to continue writing, learning about and investing in this new era of 'Creative Automation'


News from the
Remagine Ventures

# 01

Our companies are shaping the future of gaming, metaverse and consumer tech. You're welcome to visit the Remagine Ventures portfolio page for the list of our disclosed investments.

The world cup is in full swing and Minute Media, the UGC platform for sports fans and players, is in the spotlight.

Fabio Sa, SVP US Soccer at Minute Media published a piece in Advertising Week on their SSP offering for advertisers. More on the SSP on BidSwitch. 90Min launched their 2022 World Cup Content Hub from the point of view of the fans and the Players Tribune focuses on the voice of the players. 
HourOne, the text-to-video Generative AI startup powered by virtual human characters, was featured by the Wall Street Journal in 'Can you tell whether this headline was written by a Robot?'. In addition Hour One shared the deck that helped them raise $20 million series A led by Insight Partners on Techcrunch.

HourOne was also featured as one of the leading companies in Generative AI in the recent landscapes published by Sequoia, Base10, etc. 
Piggy, the mobile app for document authoring, came out of stealth last month with a $7.7 million seed round led by Insight Partners.  Piggy offcially launched on Producthunt and was selected as product of the week. Here's their own Piggy on the best practices for launching on Producthunt. 
Echo3D, the 3D asset management platform for developers, was interviewed by Calcaslist on the future of the Metaverse and shared that in the past year "echo3D has grown “exponentially” in terms of team size, client base, and capital that is coming in".
Zoog, a video app to create shared family experiences for reading, learning and playing was featured in Snap's "Lens Fest". Zoog uses Augmented Reality to make learning and communications engaging and fun. 

What we've been
writing and publishing

# 01
Generative AI and the exponential growth of content

Also, what does this mean for search?
Boardroom dilemmas

How to balance growth vs. runway? 
London and Tel Aviv unicorn alumni produce most startups

Summary of the Founder Factories report
Where is the Metaverse headed in 2023

Summary of our London event with Taylor Wessing
New podcast episode: FutureView with Eze Vidra

By Henry Piney on opportunities in entertainment tech and why Israel

Sign up to the #Firgun newsletter

# 01
We publish a newsletter every Friday, shining a spotlight on the movers and shakers in Israeli tech and venture. Join over 2,700 subscribers and learn more on the concept of "Firgun" and why it matters on VC Cafe.
#Firgun newsletter sign up

What we've
been reading

# 01

Israeli tech ecosystem

Israel's funds bring in more funds as European hubs struggle


Gaming, Metaverse and web3:


of the month

# 01

Together with Taylor Wessing, we published the first map of the UK startups building the Metaverse: from consumer experiences to infrastructure. We mapped over 89 startups that collectively raised over £2 billion. Download a high res copy here, where you can also find all the videos from our event.

We asked ChatGPT to write a song about the impact of generative AI on the future of gaming and the Metaverse in the style of the Beatles... 🤯

Looking for a new challenge?
Our portfolio companies are hiring!

# 01

Minute Media







Remagine Ventures is an early-stage VC firm investing in Gaming, Metaverse and consumer tech with a spotlight on Israel and UK. We provide our founders with hands-on support and offer access to our network of strategic partners in this space. 
We love to meet founders early in their journey. If you're a founder building a startup in these spaces - we'd love to connect. Please get in touch or reach out to us through the various channels below.

Eze, Kevin, Amit and Michael

Connect with us

You can read our thoughts on VC Cafe, follow us on Twitter (@remaginev,@ediggs, @baxpehler), FacebookInstragram and LinkedIn
Copyright © 2022 Remagine Ventures, All rights reserved.

Want to change how you receive these emails?
You can
update your preferences or unsubscribe from this list.

Email Marketing Powered by Mailchimp