Toch.ai, a software-as-a-service platform, said it has raised a Series A funding round from Moneta Ventures, Baring Private Equity India and others.
The round also saw participation from Binny Bansal, Ventureast, 9Unicorns, Anthill Ventures, Cathexis Ventures, SOSV, Artesian, and Innoven Capital.
The company said it will use the funds to scale up technology infrastructure and expand into global markets.
Founded in 2016 by Vinayak Shrivastav, Saket Dandotia, and Alok Patil. Toch.ai uses artificial intelligence to process video content including live sporting events, television shows, and library-based content.
The $224 billion digital video content and digital video advertising industry has long been plagued with time-consuming, manual processes, limited consumer engagement, and low monetisation. Toch.ai is addressing that through its technology, the company said.
“We are helping businesses to reimagine what is possible with digital video. Our technology is driving revolutionary changes in the way video content is edited, presented, and consumed. This enables businesses, whether it be a broadcaster, streaming service, or sports team, to offer the right dynamic video content at the right time, meeting and exceeding their customer’s expectations, and growing revenue while managing risks and reducing costs,” Vinayak Shrivastav, co-founder and CEO of Toch.ai, said.
“We believe that artificial intelligence can make a lot of difference to how content is generated and consumed," Arul Mehra, partner at Baring Private Equity India, said.
Toch.ai’s clients include broadcasters, OTT platforms, media platforms, and creators.