CoinVoice has learned that, according to Techfundingnews, AI video generation platform Hedra has announced the completion of a $32 million Series A funding round, led by a16z Infra, with participation from a16z Speedrun, Index Ventures, and Abstract. The latest round of funding will primarily be used to support team expansion and product development.

Hedra plans to double its workforce from the current 20 people by the end of this year. The company also plans to enhance its Character-3 foundational model, invest in infrastructure to scale video rendering, and build enterprise-centric workflows for faster and higher-quality video production.