Founders: Nav Agrawal, Ashish Gupta, & Swapnil Upadhyay
Financing status: USD 6M in Series-A funding round
Clip, a Bangalore-based video-sharing startup landed USD 6 million in a Series-A funding round led by Matrix Partners India. Shunwei Capital and India Quotient, both existing investors, likewise participated in the round. Reportedly, the funds raised will be allocated toward enhancing product development and features.
Clip is a mobile application that allows users to easily create, watch, download, and share videos. The app provides a range of stickers, themes, and effects to personalize videos. After a user uploads a video, Clip’s advanced machine-learning technologies connect that video’s producer with other users who have uploaded similar content.
Among Clip’s targets audience are those in tier II or tier III markets who do not speak English nor Hindi and for whom the English- and Hindi-centric content of Facebook, Instagram, and Snapchat is often inaccessible. Clip is available in a host of Indian languages including Gujarati, Marathi, Bengali, Tamil, Telugu, Kannada, Urdu, Malayalam, Punjabi, as well as Hindi and English. Increasingly affordable cellular data and lower priced smartphones have amounted to increased content consumption, and Clip aims to ensure accessible content for all. The platform has seen 100,000 users in growth within three months, largely from tier-II and tier-III markets.
Clip was founded in 2017 by Nav Agrawal, Ashish Gupta, and Swapnil Upadhyay. Agrawal is a graduate of Indian Institute of Technology (IIT) Bombay and previously worked as an analyst at venture capitalist & PE firm India Quotient. Additionally, he co-founded and served as the CEO of Sendd, an ecommerce and logistics startup acquired by Craftsvilla. Gupta holds a degree in materials engineering from IIT Kanpur. Prior to Clip, he was a software developer at Limitless Technology Ventures. Upadhyay studied electrical engineering at IIT Kanpur and worked previously as a backend developer at Stayzilla, an accomodation platform specializing in homestays.
Other video-sharing platforms in the Indian market include include Vebbler, Galleri5, Shoto, as well as global players like Facebook, Instagram, and Snapchat.
(Top image from Pixabay.com)