The startup remains lossmaking, however — and is not focusing on making a profit anytime soon.

In 2023, Synthesia reported a pre-tax loss of £25.2 million on revenues of £25.7 million, according to a U.K. Companies House filing. Profitability is "not an immediate focus," Riparbelli told CNBC. "But the path is clear."

"We've never chased growth at any cost," Synthesia's CEO said, adding the company still had cash left over from a 2023 funding round when it raised funds again earlier this year.

Synthesia was most recently valued at $2.1 billion in an investment round announced in January. Its rivals include Colossyan, DeepBrain AI, Invideo AI, Filmora and Veed.io. The startup also faces competition from OpenAI, whose text-to-video model Sora can create realistic video clips based on user prompts.