Mirage, the maker of video-editing app Captions, has raised $75 million in growth financing from General Catalyst’s Customer Value Fund (CVF).

Over the past year, the startup has made significant changes both to its product and corporate identity. The startup rebranded from Captions to Mirage to position itself as an AI lab that produces different models and also caters to industries like advertising and marketing. It has also trained a model specifically for pacing, framing, and attention dynamics in short videos.

The company also switched to a freemium model in January 2025 to better compete with apps like ByteDance’s CapCut and Meta’s Edits, which was released later in the year. It now offers a video-creation suite as well, with some of the features from Captions, that lets companies create and distribute videos in bulk.

Mirage’s co-founder and CEO Gaurav Misra said that the company aims to create more models. However, he didn’t specify what its next set of models would do, only saying that they would be focused on “assembly intelligence” — basically putting together a video using different sources and components.

Speaking about Mirage’s new audio model, which it claims can preserve accents in generated videos, Misra said, “The reason for the audio model was that we noticed that there was a gap in accents because a lot of our users are international. Accents are just very important. There was my own dad’s example. He was trying to use the app, and he would say a word in an Indian accent, and it would always make it sound like he’s talking in an American accent.”

According to data from analytics firm Appfigures, Captions has been downloaded over 3.2 million times in the last 365 days and has brought in $28.4 million in in-app revenue. Misra said the platform has been used to create more than 200 million videos so far, and that it has attracted an international user base, with only 25% of its revenue coming from the U.S.

Currently, Mirage’s marketing suite is available on the web, and Captions largely offers a mobile-first editing suite. The company aims to merge these two platforms to better target small businesses that may be looking to create marketing videos.

Pranav Singhvi, managing director of General Catalyst’s CVF fund, said Mirage has great product-market fit.

“Mirage’s business equation is extremely figured out. They know exactly how to spend that dollar and generate a very attractive ROI. If you think about the market they’re going after, it’s in a sense an infinite total addressable market. You can start out in the creator world, the influencer world, and then use that as a mechanism to sell to enterprises as well,” Singhvi told TechCrunch.

There are tons of companies building AI video-generation pipelines for marketing. Canva has introduced several tools around marketing creation and tracking, while platforms like D-ID, HeyGen, Webflow, and Avataar have been releasing new models and features.

However, Singhvi seems confident about Mirage’s positioning and unit economics. “Regardless of what the other tools are out there, Mirage is clearly ahead of the pack from a unit economics standpoint. Ultimately, it’s all a reflection of their product,” he said.

Mirage aims to use the fresh capital to fuel growth, and expand in high-growth Asian markets.

Spotify announced on Tuesday the global rollout of a new feature, SongDNA, that lets listeners more deeply explore their favorite music.

Now available to Premium subscribers on iOS and Android, the feature provides an interactive experience that lets users trace other components of a song beyond the singer, songwriter, or musician. With SongDNA, listeners could explore other connections, like who may have covered that song, plus other information like samples, interpolations, or what other projects the song’s collaborators have also been involved in.

The idea is something of an expansion to the existing “About the Song” feature, allowing Spotify’s customers to learn more about the writers, producers, and collaborators behind their favorite music. This could lead users to see how artists are connected to and influenced by one another’s work. For those in the music industry itself, the feature could help them find new collaborators, producers, engineers, and others they may want to work with.

It also offers those in the background of music production more visibility and credibility than they’ve previously had in the streaming age.

TechCrunch reported in October that Spotify was developing the SongDNA feature as a way to help users discover music through a song’s credits, after references to the feature were spotted in the app’s code by reverse engineer Jane Manchun Wong. The following month, the company officially confirmed its plans to launch SongDNA in early 2026.

In part, SongDNA has been built on top of data from the online community-built music database WhoSampled, which Spotify acquired last year. The feature also competes with TIDAL’s interactive credits, which similarly focus on the contributors behind the songs you stream.

“By bringing collaborators, samples, and covers together in one place, we’re making it easier for fans to discover new music and see how songs connect and come to life—while giving songwriters, producers, and rightsholders meaningful recognition for the role they play in creating it,” said Jacqueline Ankner, Spotify’s head of Songwriter & Publisher Partnerships, in a statement.

The feature is rolling out now in beta to Premium users globally across iOS and Android devices, with plans for the rollout to be complete sometime in April.

Cauldron Ferm has an unlikely origin story, as startups go. Its core technology can be traced back to the 1960s, or maybe the 1970s. The exact start is a bit hazy, actually. What is known is that David and Polly McLennan had a dream of feeding the world using protein grown from microbes.

The pair knew they needed to improve the process, which was pricy and time consuming. Most fermentation happens in batches. Picture a brewery or a vineyard. Ingredients go in and the microbes work for a while, but then the process stops when it’s time to take out the finished product. It works for alcohol because booze commands a premium price. Food, though? That needs to be cheaper.

Still, the McLennans stuck with it, starting a small business that would over the course of 40 years refine their approach to continuous fermentation, which turns microbes into assembly lines capable of cranking out products uninterrupted.

“We didn’t know what we had,” Michele Stansfied, co-founder and CEO of Cauldron Ferm, told TechCrunch. But eventually, Stansfield who arrived at the McLennans’ company in 2012, realized they had more than initially thought.

“We didn’t understand the challenge of continuous fermentation for synthetic biology,” Stansfield said. But when she did, she sought to transform the company from a small fee-for-service operators to a fast-moving startup. “At that point, I raised a seed round and acquired the IP, physical, and business assets.”

Cauldron has now raised $13.25 million in a Series A2 round that was led by Main Sequence Ventures with participation from Horizons Ventures, NGS Super, and SOSV, the company exclusively told TechCrunch. It had previously raised $6.5 million in 2024. Cauldron plans to use the funding to “increase the technology moat,” Stansfield said. 

The company calls it’s technology “hyper fermentation,” which helps keep microbes in their maximally productive state. It can work in existing batch fermenters with a few modifications to the facility to accommodate the process. Cauldron’s customers bring their own microbes and strains, and the startup works to tweak their growing conditions, including nutrients, to keep them humming.

Currently, Cauldron is focused on producing fats and proteins, including whey protein, “a product that can just slip into supply chains,” Stansfield said, though she adds there are more products the company has its eyes on.

“Sixty percent of all inputs to global economy can be produced from biology,” she said. “Food was where we started, but now we’re starting to really diversify.”