Video creation platform InVideo has raised $15 million in a Series A funding round led by Sequoia Capital India.
The round also includes participation from Tiger Global, Hummingbird, RTP Global and Base.
InVideo, which offers video creation experience for amateurs and professionals, combines video editing and compositing in a browser first solution to increase accessibility.
InVideo said that the funding will help accelerate product development and build its collaborative, cross device video creation suite.
“We have a single goal: to replace the current crop of cumbersome and expensive video editing software with an intelligent, yet flexible platform,” Sanket Shah, CEO and co-founder of InVideo, said.
“InVideo cuts the time to create a professional quality video by over 90 per cent, and allows the creator to focus on impact and message.”
InVideo was launched in April 2019 by Shah and Harsh Vakharia who first worked together at a startup that created 10-minute video summaries of nonfiction books and have also spent time building an enterprise grade video creation suite for newsrooms.
Since launching a year ago, the platform has over 8 lakh users from more than 150 countries who have created videos in over 75 languages.
“InVideo is well-placed to become the platform of choice for video creation in a potentially $10 billion market,” said Prateek Sharma, vice president, Sequoia Capital India.