Salford-based startup Ittybit, known for its innovative software designed to simplify the uploading of large files, has successfully raised £1.5 million in a recent funding round. The company aims to address the increasing demand for high-quality image, video, and audio uploads—a trend fueled by the surge in digital content creation driven by generative AI.
Ittybit has developed an advanced AI compression tool that significantly reduces upload and download times while also cutting down storage requirements. In addition, the company offers a suite of tools that enhance content searchability, filter unsafe uploads, and automate tagging and transcription processes.
“Ittybit was created to address the pain we felt handling large videos in our previous companies,” said founder Paul Williams. “We built the media tools we wished we’d had access to, and are making them available to all developers because robust media workflows shouldn’t be so expensive or complicated that only the largest tech companies can access them.”
The funding round was led by Mercuri and Sure Valley Ventures, with participation from Oxford Capital, Baltic Ventures, and angel investors. This investment is expected to accelerate Ittybit’s mission to provide world-class AI-led media management tools to developers globally and expand its engineering and enterprise sales teams.
“As specialists in media and creative industries, we see Ittybit as a groundbreaking solution that excels in speed, quality, and cost-efficiency,” said James Pringle, principal at Mercuri. “While it’s still early, we are enthusiastic about Ittybit’s potential to significantly impact and grow within the dynamic media landscape.”
Ittybit was previously part of the inaugural Liverpool Slush’D cohort in 2023. The company’s cutting-edge APIs and tools are designed to simplify the uploading, storing, and delivery of large video, image, and audio files. By leveraging state-of-the-art computer vision models, Ittybit enables developers to enhance content searchability and automate media management processes.
The AI-based compression tool is particularly notable, ensuring faster downloads and reduced storage costs without compromising visual quality.
The demand for high-quality media management solutions has never been greater. In 2022, video accounted for an estimated 82% of consumer internet traffic, with HD and UHD video content volume quadrupling since 2017.
The rise of generative AI is set to further accelerate the creation of personalized media content, while trends in private video storage continue to surge with the proliferation of bodycams, dashcams, home security cameras, AR headsets, and smart glasses.
James Pringle added, “Mercuri is thrilled to invest in Ittybit, recognizing that the future of media lies in instant delivery. Ittybit’s solutions excel in speed, quality, and cost-efficiency, and we are enthusiastic about its potential impact on the media landscape.”
Brian Kinane, Founding Partner at Sure Valley Ventures, commented, “Ittybit’s proprietary Machine Learning solution is transforming the costs of hosting media for both SMEs and Enterprises globally. We are delighted to back a Manchester-based, cutting-edge AI company that is well-positioned to democratize media hosting, especially as the innovation of multimodal large language models enables content creation at an unprecedented scale. This deal exemplifies why we established a northern office in Manchester—to find high-growth AI companies with significant global potential.”
With the new funding, Ittybit is set to accelerate its vision of empowering developers with unparalleled media management tools and expand its team within engineering and enterprise sales, positioning itself as a leader in the dynamic media landscape.
