Stock photo company Picxy has raised an angel round of $120,000 from FirstCheque, Aakrit Vaish, CEO of Jio Haptik CEO, Angellist India, Byju's CPO Ranjith Radhakrishnan and others.
In addition, Picxy has also been selected for the second cohort of Techstars in Bengaluru. Picxy has also raised $120K from Techstars, which is a Colorado-based startup accelerator. The rest of the fundding has come through a few small angel investors.
Picxy was founded by Jitendra Emmani, Vamsi Krishna and Satish Madala in 2018 in Hyderabad. It now has teams in Bengaluru, Delhi, apart from Hyderabad.
It currently has over half a million images being contributed by over 5000 photographers from across India and beyond.
It currently works with over 200 clients across media companies, marketing and ad agencies, freelancers, designers, small businesses, among others. Picxy aims to reach 500 clients over a period of time and by the end of this year, it aims to reach 300 subscriptions.
Jitendra says that this funding and being part of Techstars will help the company accelerate its journey towards reaching five million images on its platform, which will then make Picxy one of the largest stock photo companies in the world and the largest in India.
â€śItâ€™s an exciting journey at Techstars. We are meeting mentors from various areas of expertise and itâ€™s giving us great insights about the direction we should be heading towards. Mentorship, connects, funding, venture readiness is making the companies in the Techstars Bangalore cohort not only grow but grow faster,â€ť he adds.
Picxy is now working on launching stock videos in February to meet the demands of stock videos in the domestic market and globally.
â€śWe are looking to raise a larger round in the near future to grow the content base and capture the growing demand,â€ť Jitendra adds.
In June 2018, Picxy raised $130,000 from senior executives of Amazon and Cisco.