Video Commerce Platform Flickstree Raises Series B Funding
Flickstree, a Mumbai-based digital video curation startup, has raised $5 million (around Rs 40 crore) as a part of its pre-Series B funding round led by Venture Catalysts.
As per the startup, the raised funds will be used to deploy the fresh capital for global expansion, with scaling up its product and technology.
Flickstree | Video Commerce Platform
Founded by Saurabh Singh, Rahul Jain and Nagender Sangra in 2016, Flickstree helps brands to engage and acquire users with AI-powered editorial videos that users love to watch in a cost-effective, scalable way.
The platform uses artificial intelligence (AI) voiceover and AI script and auto-generates branded video content that is distributed through its own apps and websites, such as PlusYou Club, and a network of more than 150 publisher partners.
Speaking about the development, Saurabh Singh, Co-founder of Flickstree, said,
“Consumers prefer watching content before making transactions. That’s why content-led commerce is the future of e-commerce. Flickstree’s AI creates great content that consumers love to watch and transact, making this a cutting-edge platform to partner with for all e-commerce brands worldwide.”
On its platform PlusYou Club, users not only enjoy branded videos, but they also engage with multiple rewarding tools like quizzes, crosswords, polls, etc.
In 2020, the startup raised $3 million in a Series A funding round led by Samsung Venture Investment Corp, with participation from LionRock Capital, Accretio Investments, venture capital firm SOSV’s Mobile Only Accelerator (MOX) and more.
Commenting on the development, Apoorva Ranjan Sharma, Co-founder of Venture Catalysts, said,
“Flickstree uses artificial intelligence to create branded video content at scale, at no-cost for brands. Moreover, they use their data engine to promote these videos that keeps churning transactions on an auto-pilot mode…this makes it a win-win platform for all brands globally.”
Established in 2016, Venture Catalysts is India’s most active angels and early-stage investment platform that has a presence in 47 cities across India and an international presence in UAE, Hong Kong, the UK, the USA, Canada and Singapore.
The platform provides an investment of Rs 2 – 15 crore per startup through a network of HNIs, Family Offices, CXOs, etc.