Mobile video production firm, Yogurt Labs has raised $115,190 (Rs 72 lakh) in convertible notes from a group of investors, including Silicon Valley-based angel investor Nick Adams, and Kiran Bhat to expand their business.
Other investors who participated in the round include Family Pot Investments LLP — a fund set up by two London-based financiers, Devin Kohli and Grant Bergman.
Founded in December 2014, the startup makes professional quality video clips with a smartphone. The firm has already made 120-plus videos for over 10 customers of which 70% videos were paid for. It allows people to hire filmmakers and students to shoot short videos clips for them. Over 45 such individual filmmakers and students have signed up on the platform.
The company has developed a do-it-yourself platform for videos and building mobile technology that enables anyone to create short videos from their smartphone. It prompts like a director does — where to point the camera, how many seconds remain for a shot, etc.
Some other players in the space include Qyuki, a digital media network that had raised $10 million (Rs 65 crore) in funding; Vliv, a mobile video startup that raised an undisclosed amount in seed funding from Mumbai Angels and a group of executives; and Culture Machine, which secured $18 million (Rs 112 crore) in its Series B round of funding from Tiger Global, Zodius Capital and Times Internet Ltd.