Aug X Labs, the creator of the AI video app Augie Studio, has been acquired by video technology firm JWX. While financial details remain undisclosed, the acquisition ensures the retention of Aug X Labs’ leadership team, with co-founders Jeremy Toeman and JT White transitioning to executive roles. JWX will discontinue Augie’s consumer-facing product, focusing instead on enterprise solutions. JWX CEO John Nardone emphasized that Augie enhances their platform, enabling media companies to transform content into optimized, multi-format experiences to boost engagement and monetization. Founded in 2022, Aug X Labs utilized AI to simplify video creation for marketers and publishers, akin to Descript for audio. Notable features included automatic clip generation and voice cloning via a partnership with ElevenLabs. Aug X Labs has raised $4.1 million in venture funding. JWX aims to amplify content value through Augie Studio, strengthening its mission to aid content distribution and monetization across diverse platforms.
Source link
