Artificial intelligence (AI) video streaming company iSIZE Technologies has raised £1.3 million in total funding after its first seed round.

The London-based startup, which uses deep tech to cut the data used in streaming video, received backing in the round from Silicon Valley angel and institutional investors including Patrick Pichette, partner at Inovia capital.

The round was part of Oxford University Creative Destruction Labs accelerator programme, from which iSIZE graduated this month.

The firm specialises in deep learning for video delivery and has developed a 'precoder' software solution that uses AI trained to optimise visual quality in order to save video bitrate during encoding by up to 40 per cent.

This results in substantial data, energy and cost savings for both the company hosting the video and the end consumer.

Speaking after the round closed, Pichette said: “Video capacity needs are exploding worldwide, with no end in sight for years to come - managing capacity and costs are now becoming a strategic issue for many bandwidth providers, and iSIZE addresses this problem head on, with an innovative, amazingly elegant, platform agnostic solution.”

iSIZE is now aiming to use its technology to help the giants of video streaming meet the challenges of rising demand for high-quality video content - reducing the data cost of streaming video while simultaneously improving visual quality.

Sergio Grce, chief executive of iSIZE Technologies, added: “Data centres contribute more global emissions than the aviation industry, and with lockdowns across the globe ever more people are turning to video content for entertainment or remote working.

"We are proud to be working with household names in the sector to reduce the strain on already-overburdened networks and cut the ballooning costs of the data centre and streaming industries.”

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