Israeli company Wochit, which offers automatically-edited raw footage to news organizations, has raised $4.75 million. The funds were raised from Redpoint Ventures, Cedar Fund, and Greycroft Partners.
The company specializes in licensing raw footage and producing videos that can be used by publishers. TechCrunch reports that according to Wochit co-founder and CEO Dror Ginzberg, the process is about 95 percent automated, which drastically reduces the time and cost associated with producing timely news videos.
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