After raising $100,000 four months back, Social networking app VoxWeb has now raised an amount of $350,000 in led by an undisclosed investor. The new funding will be primarily utilised towards the startup’s latest initiative, a talking picture app – Speaking Orange Line Picture as well as also be used to further build its technology, across the Android and iOS platforms. The startup is calling the fresh funding a part of the seed round itself.
In August, the startup had raised funding from Jitendra Gupta, the Co-Founder and managing director of Citrus Pay. The company didn’t disclose if Jitendra has participated in this round or not.
Founded in 2014 by former JP Morgan executive Yash Mishra and incubated in IIT Kharagpur, the startup has launched its iOS and Android apps. It is a mobile app that allows users to attach a voice clip to pictures taken on their smartphones. VoxWeb allows users to add up to 11-second voice to any picture that they take using the app. The pictures with audio are distinctly marked with an orange line beneath them. A user can listen the voice of the picture by simply touching it.
The Mumbai startup has launched its service in India, Europe and in the US. Presently it is targeting to launch in Asia and the African continent.
Speaking on the latest fund-raise, Yash Mishra said, “The plan was not to raise any capital prior to Series A round planned for early next year but this fund raise happened in mysterious circumstances. We got a call from an investor requesting meeting and their team landed in Mumbai next day. Trends are born in streets and the investor told us that he has observed 2 incredibly powerful and unique use cases of VoxWeb’s ‘orange line’ pics because of VoxWeb’s network structure. Interestingly, he put a condition that if he reveals the spotted trend, VoxWeb will not say no to his investment proposal. We restricted the capital injection to $350,000 – much less than the investor desired to invest. In the process we also became aware of a powerful under-current being created by the combo of VoxWeb’s network structure and speaking ‘orange line’ pics.”Category Investments News