VFX company DNEG's AI unit Brahma, whose customers include Warner Bros. and the NBA, raised $150M led by Indian PE firm Multiples at a $2B post-money valuation
Brahma AI, an Indian start-up that makes artificial intelligence-generated audiovisual content for enterprise customers …
Context & Ripple Effects
DNEG had already financed Brahma’s expansion in 2024 through a $200 million raise aimed at its AI division, including development of a photo-real CGI creation tool. The new Multiples-led round gives that enterprise-content effort fresh capital at a $2 billion post-money valuation.
Brahma enters a field where Typeface has raised funding for enterprise-trained content generation and fal operates audio, video and image models for enterprises. Its named customers, Warner Bros. and the NBA, give the company reference accounts as it sells audiovisual AI beyond DNEG’s traditional VFX base.
First-order effects
- Brahma gains $150 million to develop and sell its audiovisual AI products, while Multiples becomes the lead investor in a company valued at $2 billion post-money.
- Warner Bros. and the NBA retain a better-capitalized AI-content supplier whose product development is tied to enterprise use cases.
Second-order effects
- Typeface and fal face a more heavily funded rival for enterprise budgets spanning generated content and the infrastructure used to run media models.
- The round strengthens DNEG’s effort to turn capabilities originally developed around visual-effects production into a separately financeable enterprise AI business.
Third-order effects
- If similar rounds continue, enterprise media AI is likely to be organized less around one-off creative-tool sales and more around well-capitalized vendors that combine production expertise, models and established customer distribution.
- Private-equity participation in Brahma, alongside large dedicated AI-financing vehicles such as KKR’s Helix Digital, points to AI businesses being financed as operating platforms rather than solely as venture-backed software bets.
The trend: Enterprise AI content is drawing larger, later-stage pools of capital toward vendors that can pair generative tools with proven media-industry distribution.