Backed by Elaia Partners: Revolutionizing Video Content Production

Newsbridge (now Moments Lab) is a video contribution and analysis platform offering journalists, production companies and rights holders immediate access to their most relevant content and revolutionizes video production and editing processes. The company has just closed a €1.5M round led by Elaia Partners Deeptech VC Firm.

Newsbridge (now Moments Lab) is currently adopted by sports rights holders (adidas, Evian Championship or French Rugby Federation) as well as television channels (France Télévisions, M6 Group or TF1 Group). The company is already processing several thousand hours of content each month for the largest European publishers.

The startup, co-founded by Frederic and Philippe Petitpont in 2016, is revolutionizing the way video content is produced by focusing on real time intelligent indexing. By combining artificial intelligence, cognitive technologies and broadcast expertise, Newsbridge (now Moments Lab) makes it possible to produce more relevant content in a record amount of time.

Newsbridge (now Moments Lab) raises €1.5M to strengthen its team, accelerate commercially on a European scale and significantly develop its R&D activity.

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A market trend

According to a study by MarketsandMarkets Research (January 2019), the global Digital Asset Management (DAM) market is expected to be around $ 2.5 billion in 2017 and is expected to reach about $ 8.1 billion by 2024. Newsbridge (now Moments Lab) benefits from a strong market trend:

– The volume of video data captured by the media is increasing at a considerable pace, from 30 million hours in 2018 to 150 million in 2028.

– Audiovisual publishers are under cost pressure and seeking solutions to become more efficient at creating, managing, sharing, archiving and analyzing large volumes of video resources.

– There is a growing demand for collaborative digital workflows, a growing need to comply with regulatory standards, and a growing interest in monetizing video archives.

Newsbridge (now Moments Lab) reduces production costs by 30 to 80 percent. This allows journalists to concentrate on the essentials: develop the script and select sequences of interest, instead of wasting time on tasks with no real added value.

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Technology

Newsbridge (now Moments Lab) has developed an artificial intelligence (“AI”) engine that allows the detection of entities (objects, characters, situations, etc.) in real time. This technology, based on a contextual and multimodal analysis, provides performance gains 30 to 50% higher compared to GAFA detection services by cross-referencing information and metadata from different sources.

“When we choose a device, we always have in mind that it is turned towards the future. Also, the Newsbridge (now Moments Lab) solution that makes it possible to centralize all of our media on the cloud made complete sense. (…) We wanted simple, efficient tools that make the user much more autonomous. Today, through the use of their computer and an internet connection, our journalists can immediately consult the images and start working on their editing. The time-saving, easy to use and cognitive analysis make it the ideal tool to select the most relevant content.”

Yves Bouillon, Deputy Director of the Media Factory at TF1 Group.

This fundraising will allow the team to materialize an ambitious R&D roadmap to continue the development of a world-class product and meet the needs of its customers. The PSL Innovation Fund has thus proved to be a partner of choice because PSL University concentrates the most advanced expertise in cognitive technologies and video analysis.

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Founders & Partners

“This operation is an opportunity for us to accelerate our development, both from a commercial and R & D point of view. The concordance with Elaia Partners was very natural because of the common logic of combining deeptech and strong growth."

Philippe Petitpont, CEO of Newsbridge (now Moments Lab)

“Video is becoming an integral part of nearly every company’s content and media strategy. By using next-generation cognitive technologies, Newsbridge (now Moments Lab) provides a solution perfectly adapted to the needs of the industry and transforms the creation, the management and the research of videos. We are proud to support the company in this acceleration phase and in their ambition to position itself as a key international player.”

Cédric Favier, Investment Director at the PSL Innovation Fund

Newsbridge (now Moments Lab) is excited for this new development and looks forward to the expansion to come.