AI-based startup VideoKen secures second round of seed funding worth $10 mn

Artificial intelligence video tech startup VideoKen Inc, has raised $930,000 in their second round of seed funding led by SRI Capital and Touchstone Equities, with Hyderabad Angeles being the other major investor. The funding will be used to expand VideoKen's operations in the North America region, which has a huge market potential for their video indexing technology.

Founded by former Flipkart and Xerox executives, Princeton and Bangalore based AI startup is working in a largely untapped video indexing space and using AI and machine learning to summerise videos and create automated index and glossary for videos.

"Enterprises are producing and consuming videos in a big way for a variety of stake-holders, customers, partners and employees. The consumability of these videos remains a huge challenge, the experience needs a complete transformation," said Manish Gupta, co-founder and CEO of VideoKen.

VideoKen currently has two products — one aims at the marketing and communication functions of enterprises, and the other aims at the learning vertical. It has large clients such as Walmart Labs, Robert Bosch, TCS, ACM and ADBl, among others, according to the company.

Sashi Reddi, managing partner, SRI Capital, said,"Videos account for roughly 75 per cent of the internet traffic and their usage by enterprises continues to increase. We will soon see a paradigm shift in how videos are consumed and I'm glad to see VideoKen at the forefront of this change."