Mumbai-based digital video curation startup Flickstree on Monday said it has raised $5 million (around Rs 40 crore) as a part of its pre-Series B funding round led by Venture Catalysts.
The platform plans to deploy the fresh capital for global expansion, with scaling up its product and technology.
Founded by Saurabh Singh, Rahul Jain and Nagender Sangra in 2016, Flickstree is a platform that uses artificial intelligence (AI) voiceover, AI script and auto-generates branded video content. These videos are distributed through its own apps and websites such as PlusYou Club, and a network of more than 150 publisher partners, it said in a statement.
“Consumers prefer watching content before making transactions. That’s why content-led commerce is the future of e-commerce. Flickstree’s AI creates great content that consumers love to watch and transact, making this a cutting-edge platform to partner with, for all e-commerce brands worldwide,” said Singh.
“Flickstree uses artificial intelligence to create branded video content at scale, at no-cost for brands. Moreover, they use their data engine to promote these videos that keeps churning transactions on an auto-pilot mode…this makes it a win-win platform for all brands globally,” said Apoorva Ranjan Sharma, co-founder, Venture Catalysts.
Venture Catalysts was set up in 2015 by Sharma, Anuj Golecha, Anil Jain, and Gaurav Jain. It has since become one of the most active angels and early-stage investment platforms in the country. It has a presence in 47 cities across India with international presence in UAE, Hng Kong, UK, USA, Canada and Singapore. It invests in the range of Rs 2 - 15 crore per startup through a network of HNIs, Family Offices, CXOs, etc.
In 2020, Flickstree had raised $3 million in a Series A funding round led by Samsung Venture Investment Corp. LionRock Capital, Accretio Investments, angel investor LD Sharma, Venture Catalysts and venture capital firm SOSV's Mobile Only Accelerator (MOX).