Artificial intelligence-powered video-learning platform VideoKen Inc. has reportedly raised funds amounting to $930,000 (Rs 6.83 crore). The funding round was led by SRI Capital and Touchstone Equities.
Along with this, Hyderabad Angels also participated in the round with existing backer LG Chandrasekhar of Sutures India including angel investors like Flipkart and former Yahoo executives.
This marks as the second round of seed funding by the New Jersey- and Bengaluru-based startup. The company plans to use these funds for the expansion of its operations in North America.
Prior to this, VideoKen had raised $1 million from a clutch of angel investors. The company was founded in 2017 by Manish Gupta and Ashish Vikram. The company makes use of AI and machine learning to summarise videos into digital textbooks which include automated indexes and glossaries for videos.
“Enterprises are producing and consuming videos in a big way for a variety of stakeholders – customers, partners and employees. The consumability of these videos remains a huge challenge and the experience needs a complete transformation,” Manish Gupta said.
The video-based social platforms are growing at a great pace these days and VideoKen, being a social learning solution helps educators and learners search, curate, personalise and share video clips.
The platform provides educational videos that come with several features, such as finding sections that are of interest, clipping interesting parts of a video, inserting notes and sharing them with friends, among others. Also, the users can save their videos on a cloud platform offered by the company.