Vermillio, an AI licensing and protection platform, has successfully closed a $16 million Series A funding round, led by Sony Music Entertainment and DNS Capital.
This investment will enable Vermillio to scale its operations and advance its technology, aimed at safeguarding and monetising creative content in the ever-evolving generative AI landscape.
At the heart of Vermillio's innovation is TraceID, a technology designed to provide secure licensing, attribution, and compensation for intellectual property in the age of AI.
Dan Neely, co-founder & CEO of Vermillio, emphasises the platform's mission to establish a new standard for AI licensing, ensuring that consent, credit, and compensation are prioritised.
“With the support of an innovation leader like Sony Music, Vermillio will continue building our products to ensure generative AI is utilised ethically and securely. At this critical moment in determining the future of AI and how to hold platforms accountable, we are proud to protect the world’s most beloved content and talent,” Neely stated.
“Sony Music is focused on developing responsible generative AI use cases that enhance the creativity and goals of our talent, protect their work, excite fans, and create new commercial possibilities,” said Dennis Kooker, president, global digital business, Sony Music Entertainment.
Vermillio mentioned its practical applications in collaborations with major industry players. For instance, the successful launch of a Spider-Verse AI engine with Sony Pictures, where fans created personalised digital avatars, showcased the use-case of TraceID in maintaining IP integrity while enabling fan engagement.
The technology's ability to track and attribute content is also seen in projects with The Orb and David Gilmour of Pink Floyd, which allowed fans to remix their album.
With this new funding, Vermillio is set to expand its reach and solidify its position as a leader in AI rights management, ensuring that the AI copyright battles will not be a waste of time.
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