User-generated local language video platform ‘Clip’ has raised its series A round of funding led by Matrix Partners India. Existing investors Shunwei Capital and India Quotient also participated in the fund raise, Matrix Partners said in a statement.
Founded in 2017, Bengaluru-based Clip is a user-generated platform for short videos. It is targeted towards the 250 million plus online consumer base of non-English speaking users in India. Clip caters to the underserved local language video market by providing bite-sized, relatable content sourced from its users.
Once a user uploads a video, Clip then serves it to millions of users using machine learning algorithms. The application also has chat and sharing features to enable social engagement among its user base.
“We are building a community around like-minded people by enabling them to create and consume short-form video content. We are targeting the 90% of Indians that are untapped, those who have recently got smartphones and low cost internet connections. We believe the real potential of local language content in India is still untapped. We are looking forward to partner with Matrix Partners, India Quotient and Shunwei Capital on this journey,” Nav Agrawal, co-founder, Clip said in a statement.
The funds will be used by Clip to expand the team and scale the technology platform.
“Video consumption post Jio has grown sharply, especially among the non-English speaking audience. This section of internet users is growing the fastest and has thus far been starved of relevant content. Clip plays at the cusp of these macro trends and allows these users to create, share and consume bite-sized video content that they can relate to. We are privileged to partner with Nav, Ashish and Swapnil, the co-founders of Clip.” said Tarun Davda, Managing Director, Matrix India.
Clip last raised $1 million seed funding from India Quotient and Shunwei Capital in July.