MITO buys rival Kluster.ai to bolster AI video platform
What's the deal? MITODealroom has a profile for this one. Try Dealroom →, the AI video creation platform co-founded by Danny Saltaren, Arantxa Barcia and Iñaki Berenguer, has acquired Kluster.aiDealroom has a profile for this one. Try Dealroom →, a two-year-old startup working in the same field. Terms were not disclosed.
What changes? Three of Kluster's founding members will join MITO in senior roles, becoming chief technology officer, head of sales and head of AI.
What's the endgame? The deal folds a direct competitor's team and technology into MITO, consolidating talent as the company builds out its video generation platform.
The signal: The acquisition lands amid a broader wave of dealmaking and capital flowing through Spain's AI sector. Basque startup Sherpa.ai just closed an $18M round led by Forgepoint CapitalDealroom has a profile for this one. Try Dealroom →, while Barcelona-based Biorce is reportedly negotiating a nine-figure round at a unicorn valuation — evidence of an increasingly active market in which consolidation among AI players is becoming a natural next step.
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