Index, Jared Leto Back AI Video Startup Valued at $500 Million

Captions, a startup that uses artificial intelligence to let people create and edit videos, has raised a new funding round from a star-studded list of investors, vaulting its valuation to $500 million.

The startup raised $60 million in a deal led by Index Ventures, the company plans to announce Tuesday. That brings its total funding raised to $100 million. Other investors in the round include previous backers Kleiner Perkins, Andreessen Horowitz and Sequoia Capital, as well as new ones, like actor Jared Leto. (Leto also backed another AI video company, Pika, in June).

Captions is one of a growing number of companies aiming to ...