India-based video software provider Toch.ai has launched a Rs 1bn ($13.5m) fund to invest in video and audio technology developers, VCCircle has reported.
Founded in 2016, Toch.ai, provides software which uses artificial intelligence technology to process and edit footage from sources such as television shows and live sports into new videos.
The vehicle will focus primarily on video technology and have a global focus, while Toch.ai will provide advisory and networking services in addition to capital.
The move comes after the company secured $11.7m from Moneta Ventures, Baring Private Equity India, Ventureast, Huashan Capital, 9 Unicorns, Anthill Ventures, Cathexis Ventures, SOSV, Artesian, Innoven Capital, Binny Bansal and Saikiran Krishnamurthy in October this year.
