Singapore-based content technology startup 1Bstories raised $5.5 million in a round led by Northstar Group. 47 Venture Funds and angel investors, including Tom Blomfield of Monzo, Ceasar Sengupta of Arta Finance, Ian Doody of Powerhouse Capital, Quentin Reyes of Alpha Praetorian Capital, and Tim Dattels of TPG Asia and Goldman Sachs, participated in the round.
1Bstories was founded by Ravi Hamsa, Anuvrat Rao, and Stacie Chan. Ravi Hamsa has previously worked for noted tech companies Yahoo, LinkedIn, Uber, and InMobi, while Anuvrat Rao previously worked at Google and focused on the Online Video space. Chan is an ex-Googler, award-winning journalist, and Emmy-nominated actress. Together, the three co-founders have over 23 years of experience.
Generally speaking, the company aims to use its innovative AI-powered technologies to tell a billion stories. With the help of generative artificial intelligence, Vidiofy enables businesses to effortlessly develop engaging videos. The platform has a user-friendly interface that streamlines the process of video production. Users can generate a library of video content from zero or use existing web pages. For instance, brands can use the platform to create personalized marketing messages or social media clips.
1Bstories will use the funds to expand the team, accelerate product development, and drive widespread adoption of Vidiofy.
At the moment, the startup already works with various customers, including Australian digital publications, Singapore-based real estate developers, and Indonesian telecommunications companies.
“The revolutionary AI-powered video tool is destined to redefine the digital publishing landscape by enabling companies to churn out compelling, high-quality videos with unprecedented ease and efficiency. We foresee Vidiofy becoming the gold standard in AI video production, effortlessly bridging the gap between ambition and execution while creating new horizons of engagement and monetization,” said the Managing Director of Alpha Praetorian Capital, Quentin Reyes.
Source: mPost
