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Video sharing platform Clip raises funds

Clip is a Bengaluru – based video sharing startup/platform. The startup announced yesterday (14/12/2017) that it has raised US $6 million in Series A round of funding from Matrix Partners India. The startup’s existing investors such as Shunwei Capital and India Quotient also participated in that round of funding. The startup will use the funds to upgrade its technology platform (mobile app), expand its team and increase its presence globally. Read more on Investments

Clip was founded in March 2017 by Nav Agrawal, Ashish Gupta and Swapnil Upadhyay. The Clip app allows users to create and edit videos. The app also has an inbuilt chat interface. Apart from creating and editing videos, users can also watch free videos on the internet using Clip’s mobile app. Clip’s mobile app is also available in regional languages targeted at the non-English speaking internet users.

“If we talk about numbers, we have 400 Million smartphone users in India. 200 Million of them are English users and 200 million of them are non-English users. In next five years, by 2021, there will be an addition of 25 Million English users and 300 Million non-English users. So the next 300 Million smartphone users will be non-English users. Now the English users are already on Facebook, Instagram, but when it comes to non-English content, there is no source of content as such targeting them”, Nav Agrawal, co-founder of Clip said.

Clip’s mobile app is available in Hindi, Gujarati, Marathi, Bengali, Tamil, Telugu, Kannada, Urdu, Malayalam, Punjabi and English languages. Once a user uploads a video, the Clip app employs machine-learning algorithms to connect him/her with others sharing similar content on the mobile app. Clip claims to have witnessed more than 3 million downloads of its mobile app. The startup claims to have more than 5,00,000 daily active users. The startup had earlier raised US $1 million in seed round of funding from India Quotient and Shunwei Capital during July, this year (2017).

The other media startup to get funded this year (2017) include the media firm, WittyFeed, which secured an undisclosed amount of funding from Sandeep Aggarwal, the founder of two firms namely: the used car marketplace, Droom and the e-commerce portal, ShopClues. Read more on Startup News

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Video sharing platform Clip raises funds
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