Flickstree plans to deploy funds for expanding across the globe, strengthening its product and technology
The development comes after Flickstree secured $3 Mn Series A funding from Samsung Venture Investment Corporation, and Venture Catalysts, among others
Flickstree claims to have a wide network of over 150 publisher partners. It further asserts that it has clientele in India, Middle East, Southeast Asia, UK, Australia and USA
AI startup Flickstree has secured $5 Mn in its Pre-Series B funding round led by Venture Catalysts.
Flickstree plans to use the capital for global expansion, strengthening product and technology.
The development comes after Flickstree secured $3 Mn in Series A funding from Samsung Venture Investment Corporation, LionRock Capital, Accretio Investments and Venture Catalysts, among others in February 2020.
“Flickstree uses the power of artificial intelligence to create the most compelling branded video content at scale, at no-cost for brands. Moreover, they use their data engine to promote these videos that keep churning transactions on auto-pilot mode,” said Dr. Apoorva Ranjan Sharma, cofounder of Venture Catalysts.
Founded in 2016 by Saurabh Singh, Rahul Jain, and Nagender Sangra, Flickstree creates artificial intelligence-based video content for video commerce. In essence, it develops and aggregates engaging video content and later, embeds them within its partnered publishers.
Flickstree said that it deploys artificial intelligence-enabled voiceover and script, and auto-generated video content. These auto-generated videos are further shared via its own apps, websites and partnered publishers.
“Consumers love watching video 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 Saurabh Singh, CEO of Flickstree.
Flickstree claims to have a wide network of over 150 publisher partners. It further asserts that it has clientele in India, Middle East, Southeast Asia, UK, Australia and USA.
In 2017, it secured an undisclosed amount of funding from Indian Cricketer Sourav Ganguly. Its cap table includes Orbit Startups (SOSV), LionRock Capital, FULD & Co, Lets Venture, AB Claymore and Angelbay, amongst others.
Other AI startups that are working in the Indian AI market include Rephrase.ai, Detect Technologies and Navikenz.
As per a report, the global AI industry is projected to become a $1,811.8 Bn space by 2030, growing at a CAGR of 38.1% by 2030.