The fund aims to empower early-stage start-ups to drive innovation and bolster growth in the industry.
Toch.ai, an AI-driven SaaS platform for digital content players today launched INR 100 crore Startup Fund to invest in video & audio tech start-ups globally over a period of time.
The fund aims to empower early-stage start-ups to drive innovation and bolster growth in the industry. Cultivating the culture of promoting and nurturing pathbreaking technologies, the company has announced that they provide advisory and networking opportunities to the most promising start-ups along with capital infusion.
The Startup Fund initiative is the brainchild of the three co-founders of Toch.ai- Vinayak Shrivastav, Saket Dandotia, and Alok Patil. Speaking at the launch, Vinayak Shrivastav, Co-Founder and CEO Toch.ai said, “The video-tech industry has seen record-breaking growth in the last few years, and we are confident that this is just the beginning. With proper support and encouragement for the talent and innovation in the country, we want to be the vehicle of growth and expansion of the video tech industry in India & globally. We believe we have a collective responsibility to grow this industry with cutting edge and new-age solutions to address the evolving needs and changing demands of the end customers”.
Echoing a similar sentiment, Sanket Dandotia and Alok Patil, also emphasized that the program will be a steppingstone for those early age startups who are looking for that initial push to bring their innovative audio and video solutions to the market.
Commenting on the operational aspect of the fund, Ritesh Mehta, Head of Finance at Toch.ai, said, “We have decided to put aside substantial capital over a period of time to bring some of the most disruptive technologies and solutions to the forefront. We believe this to be an investment in the future of video-tech that is sure to give positive results and transform the industry as we know it.”
Toch.ai is playing a pivotal role in shaping the video tech ecosystem. The company recently closed its Series A round and is currently working on strengthening its tech capabilities and expanding its geographical presence.
Source: Business World