The funding, backed by Point72 Ventures and The House Fund, will be used to further Magic Story's mission of using AI for good in children's media. The platform uses a multi-modal AI platform that integrates AI models across language, speech, vision, image, and video to generate personalized and professional-grade content. To ensure safety and appropriateness for children, a sandbox approach is implemented within the Magic Story universe, reducing any risk of harmful content. The subscription is priced at $15 per month, with a 30-day free trial.
Key takeaways:
- Magic Story, an AI-powered media platform for children, has raised $4 million in seed funding from Point72 Ventures and The House Fund.
- The platform offers customized books, animated videos, read-aloud digital stories, and music, allowing children to be the heroes of their own stories.
- Magic Story Plus, the company's subscription service, provides access to digital versions of their stories, a personalized digital story credit per month, and other features.
- The company's technology leverages a multi-modal AI platform that integrates various AI models to generate personalized and professional-grade content, with a focus on safety and appropriateness for children.