Samsung Next Invests $8 Million in AI Startup Memories.ai Focused on Long-Form Video Analysis

Samsung Next has participated in an $8 million seed funding round for Memories.ai, a startup developing AI technology to analyze large volumes of video footage from various sources. The funding round was led by Susa Ventures and included other investors such as Fusion Fund, Crane Ventures, Seedcamp, and Creator Ventures.

Current AI models often struggle with analyzing very long videos or extensive video libraries. Memories.ai offers a platform that indexes, tags, segments, and summarizes video data across millions of hours. The technology filters out irrelevant video parts, compresses key data, indexes content for search via natural language, and aggregates information to identify trends and behaviors.

The startup primarily serves security companies needing to analyze surveillance footage and marketing agencies seeking insights from social and advertising videos. Samsung Next notes potential consumer applications due to Memories.ai’s on-device video processing, which can reduce the need for cloud storage and associated privacy risks.

Memories.ai plans to improve its video upload and synchronization features for real-time querying. Founders have also mentioned future use cases such as event recall for smart glasses, robotic training, and support for autonomous vehicles. Competing with companies like mem0, Letta, and larger AI initiatives from Google, the startup currently employs 15 people and intends to use the new funding to expand its team and develop its platform further.