VideoVerse, formerly known as Toch AI, has raised $46.8 million in a financing round led by A91 Partners and Alpha Wave Global. Binny Bansal, Co-Founder of Flipkart, as well as Stride Ventures, Innoven Capital, and Pacific Western Bank, among others, took part in the round. The financing is a combination of equity and debt.

The funds would be used to enhance the company’s teams in India and abroad, as well as to develop new products to expand into more global markets, according to the company.

VideoVerse, founded in 2016 by Vinayak Shrivastav, Saket Dandotia, and Alok Patil, offers artificial intelligence (AI)-led platform for processing and editing video content such as live sporting events and television shows.

The startup is working on developing an advanced video editing ecosystem aimed at addressing a wide range of post-production use cases for businesses and individual creators.

Magnifi, the company’s flagship AI-powered product, offers real-time video highlights technology for sports, entertainment, and news. Its Styck platform allows creators to live stream across multiple social media platforms at the same time, while Illusto is a web-based editing tool for creators.

VideoVerse currently operates in the United States, Europe, Israel, and India, with plans to expand to Singapore and the Middle East by the end of 2022.

As they move forward in 2022, they are excited to reveal their rebrand and a new round of significant funding. The new name more truly describes the leadership position as the go-to partner for enterprises and consumers when it comes to video, which is essential as they collaborate with A91 Partners and Alpha Wave Global, stated Shrivastav, Co-Founder at VideoVerse.

Moneta Ventures, Baring Private Equity India, Binny Bansal, and Ventureast, among others, invested in the company in October 2021. Since then, it has been expanding its sales and technology teams in the United States. In addition, it is establishing a data science and machine learning team in Israel.

What they liked about VideoVerse was that it gave a perfect quantifiable value proposition to its users – cutting editing time by 95%, cutting workforce costs in half, and driving up to two to three times better engagement, stated Kanishk Tyagi, Investor at Alpha Wave Global.

About VideoVerse 

VideoVerse is a platform that uses AI and machine learning to generate new assets from video content in real-time. It meta-tags video content and generates bite-sized clips based on pre-identified key parameters using deep learning technologies. The clips are auto-resized and time-optimized to fit various social platforms, and they can be auto-shared with relevant graphics and bumpers added as needed by the client.

For more information, visit https://vverse.ai/

The post VideoVerse Secures $46.8 Million in Funding from A91 Partners, Alpha Wave, and Others appeared first on The Media Bulletin.