Toch, a Mumbai-based interactive video shopping platform, announced it has raised over $1 million in its latest round of pre-Series A funding. Investors that took part in the financing round include SOSV and its accelerator, Chinaccelerator, 9 Unicorns Fund, and Inflection Point Ventures.
The company said it will use the funds infusion to further deepen its tech infrastructure, and grow its team.
Founded in 2016 by Vinayak Srivastav, Saket Dandotia, and Alok Patil, Toch is a media-tech platform working on video AI that auto-detects touch point inside any video content and interactivity to make video immersive and connect content with e-commerce.
“The amount of video content from broadcast media and live streamers is ballooning,” said William Bao Bean, Partner at SOSV and Managing Director at Chinaccelerator.
“We believe that Toch’s ability to automatically analyse, edit, curate, and publish video content in real-time without having to take the content out of the customers’ cloud removes the need for a hugely labour intensive process,” he added.
“Having SOSV on board will help Toch to expand in the global market,” Saket Dandotia, Co-Founder and Chief Technology Officer of Toch, said.
Toch is poised to benefit from the latest coronavirus pandemic given the rise in video-consumption globally, said Dr Apoorv Sharma, partner at 9 Unicorns Fund — India’s first accelerator VC. It provides acceleration support and seed funding to early-stage startups.
Recently, the company had raised $400,000 from Inflection Point Ventures as a part of its pre-Series A funding.
The company also helps broadcasters monetise live events, provide auto subtitles for live events in different languages based on the viewer’s location, and enable automatic meta-tagging.
