Digitization is not something new but startups have started basking in its presence. There are still seamless opportunities which are untapped, to bring a revolution to the digital world engaging the mobile generation. Grasping the same reigns, the mobile video tech startup, Yogurt Labs has raised INR 72 lakh in convertible notes from a series of investors, including Valley-based angel investor Nick Adams and the author of “No Holy Cows in Business”, Kiran Bhat.
The company plans to develop and expand its business through the infused funds. Other investors include Family Pot Investments LLP — a fund set up by two London-based financiers, Devin Kohli and Grant Bergman.
Founded just four months ago by Mohite, Paramvir Singh, Vivek Parihar and Nishant Shrivastava, the company has already made 120-plus videos for over 10 customers facilitating professional quality video clips with a smartphone.
Shardul Mohite. CEO, Yogurt Labs believes that the video platform will provide a serious start to video production from mobile devices. He is also, hoping to encash the video internet traffic by tying up with travel agencies and matrimonial sites. He said, “Out of the total video made about 70% of them were paid for.” Yogurt Labs is his third startup. Prior to this, he founded Webonise and Appbazar.
The platform provides original, authentic short video content which informs, engages & entertains the audience and is accessible across all mobile platforms. The startup is also building mobile technology that would allow anyone to create beautiful short videos from their smartphones.
The startup believes that out of the total internet users 78% watch video on websites and 50% of watch them on mobile. The business generates from the fact that on an average 186 videos are watched monthly and 100 hours of video is uploaded per minute to YouTube. According to Cisco’s annual forecast last year, videos will contribute 75% of all internet traffic in the US by 2018.
Startup like Qyuki had also raised $10 Mn to avail opportunity to monetise their music on global platforms like iTunes, Spotify, Deezer, and Rdio.
Though Yogurt Labs has developed a do-it-yourself platform for videos, which prompts like a director does — where to point the camera, how many seconds remain for a shot, etc. The company also allows people to hire professionals (filmmakers and students alike) shoot short video clips for them. Over 45 such individual filmmakers and students have signed up on the platform.