Binny Bansal-Backed SaaS Startup: VideoVerse raises $46.8 Mn in Series B round via A91 Partners, others
- ByStartupStory | April 20, 2022
A video editing platform, SaaS startup VideoVerse, has secured $46.8 Mn in Series B funding via A91 Partners, Alpha Wave Global and Binny Bansal (Flipkart).
In order to strengthen its team, technology and expand its products & global footprints while creating a conglomerate of AI-based next-generation video editing products, VideoVerse, formerly known as Toch.ai, will utilise the capital, its press statement said.
Stride Ventures, Innoven Capital, and Pacific Western Bank, among others are other investors who participated in the funding round.
VideoVerse, founded in 2016 by Vinayak Shrivastav, Saket Dandotia, and Alok Patil, is a platform that uses artificial intelligence so as to meta-tag images, video and text, and understand the context and key moments in videos.
The AI-driven video-processing startup in November 2021 launched an INR 100 Cr startup fund in order to invest in audio and video technology startups across the world.
In October 2021, the startup raised $11.75 Mn in Series A funding. The round saw participation from Baring Private Equity India, Binny Bansal, Ventureast, Moneta Ventures, Anthill Ventures, Cathexis Ventures, 9 Unicorns, SOSV, Artesian and Innoven Capital.
After building a strong US tech and sales team as well as setting up a data science and machine learning team in Israel, VideoVerse revenue has grown multifold.
VideoVerse’s clients include enterprises across OTT players, e-gaming platforms, broadcasters, sports clubs and leagues, marketing agencies, schools, colleges, among others.
Operations has been started by VideoVerse in the US, Europe, Israel and by the end of this year it is going to expand in Singapore and the Middle East.
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