NEW DELHI, Oct 27: Mumbai-based video-making platform InVideo on Tuesday said it has raised around Rs 110 crore in series A round of funding led by Sequoia Capital India.
The round also saw participation from Tiger Global, Hummingbird, RTP Global and Base, the company said.
“This fresh capital injection will allow us to continue our mission to build a world-class technology solution, expand at scale and help more individuals and businesses create unique videos that fit their needs in the easiest way possible,” InVideo CEO and co-founder Sanket Shah said in a statement.
InVideo was launched in April 2019 by Shah and Harsh Vakharia.
The platform claims to have over 8 lakh users from more than 150 countries who have created videos in over 75 languages.
“We believe the global SaaS companies of tomorrow are going to be built from India. And with their stellar product, design and tech capabilities, InVideo is well-placed to become the platform of choice for video creation in a potentially USD 10 billion (about Rs 73,700 crore) market,” Sequoia Capital India LLP, vice president, Prateek Sharma said. (PTI)
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