Video-editing platform VideoVerse raises $46.8 million, expands globally
Previously known as Toch.ai, VideoVerse is building the next-generation video editing ecosystem addressing a broad range of use cases in the post-production process.
The funding round was led by A91 Partners, Alpha Wave Global and Binny Bansal, former co-founder of Flipkart.
In October last year, the startup raised Series A funding from Moneta Ventures, Baring Private Equity India, Binny Bansal and Ventureast, among others.
"Video creation and consumption will continue to see explosive growth, whether it is the latest binge-worthy web series, corporate branding video, sports content or short social video," says Gautam Mago, General Partner at A91 Partners.
"What we liked about VideoVerse was that it provided a clear quantifiable value proposition to its users -- reducing time to edit by 95 per cent, reducing manpower costs by less than half and driving higher engagement upto 2-3x," added Kanishk Tyagi, an investor from Alpha Wave Global.
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