Toch.ai, an AI driven SaaS platform for creators and digital video content, has announced an US$ 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 specific focus on the foreign markets.
Founded in 2016 by Vinayak Shrivastav, Saket Dandotia and Alok Patil, Toch.ai’s funding comes at a pivotal moment for the US$ 224B+ digital video content and digital video advertising industry which has long been plagued with time consuming, manual processes, limited consumer engagement and low monetisation.
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 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. 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,” said Vinayak Shrivastav, Co-Founder and CEO, Toch.ai.
Arul Mehra, Partner, Baring Private Equity India added, “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 and 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.”