Promise AI Studio Adds Google, Michael Ovitz as Investors

Promise, the generative artificial intelligence studio that aims to produce original series and movies using AI technology, has added Google's AI Futures Fund and Crossbeam Venture Partners, the Michael Ovitz-tied VC firm, as investors on Tuesday. The new investment round also includes Kivu Ventures and Saga Ventures, while Peter Chernin's The North Road Company, the co-lead investor when Promise launched in Nov. 2024, has "deepened its commitment with additional capital in this round," according to a release announcing the new funding. Terms of the deal were not announced. Other . . .