VideoVerse Raises $46.8 Million In Series B Funding
VideoVerse (formerly known as Toch.ai), a video-editing SaaS startup, has raised $46.8 million in Series B funding led by A91 Partners, Alpha Wave Global, and Binny Bansal.
The funding round also saw participation from several other investors, including Stride Ventures, Innoven Capital, and Pacific Western Bank, among others.
As per the startup, the freshly raised funds will be used to strengthen its teams in India and internationally, enhance VideoVerse technology, build newer products and expand its global market share.
VideoVerse | Video-editing SaaS Startup
Founded by Vinayak Shrivastav, Saket Dandotia, and Alok Patil in 2016, VideoVerse provides an ecosystem of innovative video editing technologies that help broadcasters, OTT platforms, media platforms, and creators to revolutionize videos. The startup leverages artificial intelligence technology to process video content, including live sporting events, television shows, or library-based content, automatically and instantly.
In October 2021, the video-editing startup raised $11.75 million in a Series A funding round.
Speaking about the development, Vinayak Shrivastav, Co-founder and CEO of VideoVerse, said,
“As we chart out the next phase of our growth journey, these funds will help us in our mission to innovate on behalf of consumer needs and industry demands. We believe that VideoVerse as a brand complements this larger expectation shift that is currently shaping the industry, and we are excited to see how we can evolve and get better as we grow bigger.”
VideoVerse, with its products, focuses on revolutionizing how content is refined and consumed. The video-editing SaaS startup has created radical machine learning algorithms and a holistic video technology ecosystem that delivers dynamic video content in engaging and cost-efficient, easy to use formats.
With offices in the US, Europe, Israel, and India, the startup is expanding to Singapore and the Middle East by the end of this year.
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