Ukrainian AI startup Reface gets 5.5 million investment from Andreessen Horowitz

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Reface, a swap-face app created by Ukrainian developers, has raised $5.5 million of funding from the American Andreessen Horowitz venture capital firm and several business angels, according to the representatives of the startup, writes ain.ua.

It is noted that Reface plans to spend $5.5 million of funding on the new social platform for content personalization through machine learning. According to Dima Shvets, co-founder and CBO of Reface, the money and Andreessen Horowitz’s network of contacts will also help them establish new partnerships and sign long-term contracts with music labels, movie studios, and celebrities.

“Over the last six months, Reface has demonstrated explosive growth, reaching the level of 70 million downloads. The funding from Andreessen Horowitz will help us maintain and accelerate growth, empower the team with new talents, and enhance the technology. We are currently working on a tool for the recognition of synthesized videos to ensure responsible use of our technology,” said Denys Dmytrenko, co-founder of Reface.

The startup launched the first version of the swap-face app (which was called Doublicat back then) in January 2020. Later the startup renamed the app Reface. In August, the application topped the American AppStore, surpassing well-known brands as TikTok and Instagram.

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