InVideo, a video creation platform, announced on Tuesday that it has secured $15 million (approximately Rs 110.6 crore) in a Series A funding round led by Sequoia Capital India.

Funding Round Details

The funding round also saw participation from Tiger Global, Hummingbird, RTP Global, and Base, according to the company.

InVideo Platform Overview

InVideo offers a video creation experience tailored for both amateurs and professionals. Its browser-first solution combines video editing and compositing, aiming to enhance accessibility for users.

Utilization of Funding

InVideo plans to utilize the funding to expedite product development and enhance its collaborative, cross-device video creation suite.

CEO’s Statement

Sanket Shah, CEO and co-founder of InVideo, emphasized the platform’s goal of simplifying professional-quality video creation. He highlighted InVideo’s aim to replace cumbersome and expensive video editing software with an intelligent and flexible platform.

Platform’s Impact

Shah noted that InVideo reduces the time required to create professional-quality videos by over 90%, enabling creators to focus more on impact and message delivery.

Company Background

Launched in April 2019 by Sanket Shah and Harsh Vakharia, InVideo’s founders previously collaborated on summarizing nonfiction books into 10-minute videos. They also developed an enterprise-grade video creation suite for newsrooms.

Future Plans

Shah expressed the company’s commitment to leveraging the fresh capital injection to expand its technology solution and assist more individuals and businesses in creating unique videos effortlessly.

User Base and Market Potential

InVideo boasts over 800,000 users from 150 countries since its launch, with videos created in over 75 languages. Prateek Sharma, Vice President at Sequoia Capital India, emphasized InVideo’s potential to become the preferred video creation platform in a market estimated at $10 billion.