MUMBAI: Flickstree, an artificial intelligence-powered video publisher network, has raised $3 million in a Series A round led by Samsung Venture Investment.
LionRock Capital, Accretio Investments, Venture Catalysts, angel investor LD Sharma and SOSV were among the others who also participated in the round, entrepreneur.com reports.
Sourav Ganguly, former captain of the Indian men’s cricket team and currently the president of the Board of Control for Cricket in India, has been one of the company’s early backers, according to the website.
Founded in 2015 by Saurabh Singh, Rahul Jain and Nagendra Sangra, the Mumbai-based start-up helps publishers such as Samsung and Xiaomi offer engaging content through their respective video platforms and monetize it by embedding the Flickstree network.
The new funds would be used to create and aggregate more content as they look to solidify their presence in India as well as expand to certain international markets, on board advertisers, hire more talent and develop their technology further.
Internationally, the company is already doing some business in Singapore and the Middle East but with the cash infusion, there will be a more concentrated effort to focus on markets such as Indonesia, Thailand and Vietnam, the website further reports.
