Toch.ai Raises Close To $12 Mn In Series A Round The funding will be used to scale up technology infrastructure and venture expansion into global markets with a specific focus on the foreign markets
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Toch.ai, an AI-driven SaaS platform that is revolutionizing how some of the most respected broadcasters, entertainment companies, streaming apps, media platforms, and creators globally edit and present digital video content, on Wednesday announced an $11.75 million Series A funding by Moneta Ventures, Baring Private Equity India, Binny Bansal, Ventureast, 9 Unicorns, Anthill Ventures, Cathexis Ventures, SOSV, Artesian and Innoven Capital (backed by Temasek and United overseas bank).
The funding will be used to scale up technology infrastructure and venture expansion into global markets with a specific focus on the foreign markets.
"We are helping businesses to reimagine what is possible with digital video," said Vinayak Shrivastav, co-founder and chief executive officer, Toch.ai. "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. Our next journey is going to see us focusing on building an ecosystem of video tools around the company that will work towards defining itself as a global SaaS company."
Toch.ai uses artificial intelligence technology to process video content including live sporting events, television shows, or library-based content, automatically and instantly. Using an algorithm that automatically meta-tags images, video, and text, understands the context and identifies key moments, businesses can auto-create and share customized digital video content using existing feeds, be it LIVE or recorded, and match and adapt content to meet the changing demands of consumers.
"We believe that AI can make a lot of difference to how content is generated and consumed. Toch.ai is equipped with top-notch technology & a team which is greatly contributing to the revolution seen in the video sector. Thus, we see this as a huge opportunity to be a part of this change as we partner with Vinayak and the team as they chart out the journey towards becoming leaders in the video-tech space," added Arul Mehra, partner, Baring Private Equity India.
