VideoVerse (formerly known as Toch.ai) has announced that it has secured $46.8 million in Series B funding led by Binny Bansal, ex-Flipkart co-founder, A91 Partners and Alpha Wave.
Other investors who took part in the round include innoven Capital, Pacific Western Bank, and Stride Ventures amongst others.
“We are thrilled to reveal our rebrand and announce a new round of significant funding as we move forward in 2022. The new name more accurately reflects our leadership position as the go-to partner when enterprises and consumers think about video, which is critical as we join hands with A91 Partners and Alpha Wave Global," said VideoVerse CEO and Co-founder Vinayak Shrivastav.
The capital raised will be used to hire and expand India and as well as international teams, enhance their SAAS technology, build newer products and expand its global market share.
VideoVerse, formerly known as Toch.AI revenue has grown significantly while building out a strong U.S. Tech and Sales team as well as setting up a data science and machine learning team in Israel.
It would be interesting to see how they keep up with their competitors in the bludgeoning post pandemic market.