Competition Ramps Up in AI Video Generation as Former Deepmind Members Reveal Haiper

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AI-powered video generation is a hot market on the back of OpenAI’s releasing Sora model last month. Two Deepmind alums Yishu Miao and Ziyu Wang have publicly released their video generation tool Haiper with its own AI model underneath. Video generation serviceUsers can go to Haiper’s site and start generating videos for free by typing in text prompts. He noted that it is “too early” in the startup’s journey to think about building a subscription product around video generation. While investors are looking to invest in AI-powered video generation startups, they also think the technology still has a lot of room for improvement.

“$1.5M Pre-Seed Raised by Cleva, an African Fintech Supported by Y Combinator and Former Stripe & AWS Members”

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Nigerian fintech Cleva, focused on creating a banking platform for African individuals and businesses to receive international payments by opening USD accounts, has raised $1.5 million in pre-seed funding. “The team is uniquely qualified to address this given their experience building banking products at Stripe and robust platforms at AWS. Both founders share a strong connection with the African market. (It’s worth highlighting that while Cleva exclusively provides USD accounts, other players offer GBP and EUR accounts.) Meanwhile, the YC-backed startup, which generates revenue when users swap and exchange their funds (in USD accounts) for the local currency (in naira for now), also charges a 0.9% fee on deposits into customers’ USD accounts.