Brahma AI raises $150 million led by Multiples, valued at $2 billion

Bengaluru: Prime Focus-backed Brahma AI has raised $150 million in a round led by Indian private equity firm Multiples, valuing the company at $2 billion post-investment, Prime Focus said on Wednesday.Multiples has committed $100 million to the round. While Brahma AI said it had raised $150 million, Prime Focus’ detailed stock exchange filing described $150 million as the target size of the broader round, noting that interest from other investors had not yet translated into completed subscriptions. The Multiples investment is also subject to shareholder and other approvals.Brahma AI develops software that helps businesses organise, search and create video and audio content. Its tools include AI-generated voices and digital humans. The company counts Warner Bros, the NBA and Mayo Clinic among its customers, while Google and Hakuhodo are among its strategic partners.Founder and CEO Prabhu Narasimhan built Brahma AI using technology and capabilities developed across visual effects company DNEG, Metaphysic and Prime Focus Technologies. The company plans to use the funding to expand research, strengthen its global sales operations and build a larger presence in Silicon Valley. Narasimhan said the company is also close to launching interactive digital humans.The transaction will change Prime Focus’ relationship with Brahma AI. Once completed, Prime Focus expects to retain about 66% of Brahma AI’s economic ownership through DNEG, but its voting rights will fall from 89.2% to 24.9%.As a result, Prime Focus will cease to control Brahma AI and account for it as an associate rather than a subsidiary.Brahma AI also said it had received an additional $100 million of investor interest and could expand the current round.You use AI every day. Now get your AI Quotient. Take the AIQ test.