An AI-video publishing company, Flickstree, recently announced that it has raised $3 million in its Series A funding round led by Samsung Venture Investment Corporation.
Some of the other participants in the funding round were LionRock Capital, Accretio Investments, LD Sharma, Venture Catalysts, SOSV, and MOX.
Founded in 2016, the Mumbai-based Flickstree creates and aggregates videos, which gets embedded by its publishing partners including Samsung, Xiaomi, Micromax, Karbonn Gionee, and MX player, among others. The company also provides solutions to publishers that can be directly integrated with their platforms.
About the video publishing platform, CEO and Co-Founder of Flickstree, Saurabh Singh said: “Indian internet users are growing fast and online video consumption has grown from zero to 60% of all internet traffic in India. All apps and websites now want to show videos to their users, if they need to survive. We help bridge this gap. Not only does video content increase user engagement, it also allows our publisher partners to earn more revenues without doing any additional effort.”
The company plans to use the freshly raised funds to further develop and improve its technology around content and expand in Southeast Asia.
Flickstree previously raised funds from Venture Catalysts, Indian Cricket Board Chief Sourav Ganguly, and SOSV. It is backed by the social media giant, Facebook through its FbStart program.
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