Rejected By 100 Investors, CEO Built A $4 Billion AI Startup Before ChatGPT Boom

Years before ChatGPT sparked the global artificial intelligence boom, one entrepreneur was already convinced that AI-generated video would transform business communication. Few investors shared that belief.

Victor Riparbelli, the co-founder and chief executive of Synthesia, was rejected by more than 100 investors while trying to raise money for his startup. Many thought AI-generated video was too early and questioned whether there was a real market for it. According to CNBC Make It, the repeated rejections never convinced Riparbelli to abandon his vision.

Founded in London in 2017, Synthesia began developing technology that could create realistic videos from text long before generative AI became mainstream. As CNBC Make It reported, Riparbelli believed breakthrough ideas often seem unrealistic at first, but the few that succeed can change entire industries.

The company also realised that its biggest opportunity was not in entertainment. Instead, it shifted its focus to businesses looking for a faster and cheaper way to produce training, onboarding and internal communication videos. That decision proved to be a major turning point.

Today, Synthesia enables companies to create professional-looking videos using AI avatars without cameras, actors or film crews. According to TechCrunch, the company reached a valuation of $4 billion after raising fresh funding earlier this year, cementing its position as one of Europe's leading AI startups.

As CNBC Make It noted, Riparbelli believes founders should not expect everyone to understand an ambitious idea from the beginning. He says resilience is essential because many people will dismiss ideas that later become successful.

TechCrunch reported that the latest funding round also included a secondary share sale, allowing some employees and early investors to cash out part of their holdings while continuing to support the company's long-term growth.

From more than 100 investor rejections to building a startup worth $4 billion, Synthesia's journey shows that persistence, timing and belief in an unconventional idea can sometimes achieve what sceptics never imagined.