Revidd Raises $1.1 Mn To Expand its No-Code SaaS Platform in North America The company is a no-code SaaS platform which enables anyone with video content to launch their own customizable video streaming product or digital TV in less than five minutes
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Visakhapatnam-based Revidd.com, a no-code videotech platform, has raised $1.1 million from Inovnis SA, an investment and advisory firm based in Geneva, and CIIE.CO, a startup incubator established by IIM Ahmedabad.
With this seed investment, the company intends to set up shop in the USA to further expand the North American market, hire ingenious talent and strengthen the product and technology, said a statement. The company aims to bring 60 per cent cost savings with its own decentralised storage and streaming network.
"Today, building online video platforms is expensive, time consuming and requires deep tech skills for content creators to bootstrap their own video-centric products. Our no-code solution revolutionises video tech business. Our product equally caters to the needs of an individual as well as the global private and public entities, which is a rare combination," says Kiran Pasvadela, co-founder and CEO, Revidd.com.
Revidd went against the grain to build itself and is fundamentally differentiated by its ability to bring video-on-demand, live streaming, video conferencing and CloudTV channels in one place, providing a potential option for content creators to manage and monetize video content in several possible ways, said the company.
"Inovnis is thrilled to join the three co-founders of Revidd.com by providing the company $1 million in seed capital and supporting the further expansion of their vision. We believe that the video industry is undergoing a profound change due to the rapid expansion of the market while still operating on legacy infrastructure. We are impressed with the team's outstanding ingenuity and capacity to answer the demand, thus leading the way for significant disruption and growth," said Olivier Meyer, co-founder, Inovnis SA.
"Enabling creators to truly build content rich platforms is the heart of Revidd. Their technology empowers video content creators to focus on what they do best - create while technology complexity is simplified by Revidd. We are happy to support the founding team to build a global product to tap into a $1.7 trillion market," said Chintan Antani, vice president, CIIE.CO.
Founded in 2021, Revidd.com is a no-code software-as-a-service (SaaS) platform which enables anyone with video content to launch their own customizable video streaming product or digital TV in less than five minutes.