Rocketium raises seed funding led by Blume Ventures and angel investors
Web-based video creation platform Rocketium has raised undisclosed seed funding from Blume Ventures and angel investors like BigBasket’s Human Resources Head TN Hari, TaxiForSure Co-founder Raghunandan G, and others from the senior management team of SpaceX, Freshworks, Apple and Microsoft.
The funds raised will primarily be used to help Rocketium expand its global footprint, and hire marketing and sales talent. The team is also building a Machine Learning team to help automate the video creation process.
Satej Sirur, Founder and CEO Rocketium, said the company is looking to complement its organic growth with global sales, and customer acquisition channels. This means hiring the right talent, and investing in enabling software.
"This seed round will augment our revenues and help us grow faster,” he said.
Rocketium’s web-based software lets users create professional-looking videos quickly without the need to have any video expertise. The 18-member team is based in Bengaluru, and team members have worked at Amazon, Byju’s, Deloitte, Genpact, IBM and Oracle.
At TaxiForSure, Satej Sirur headed Strategy and Product Management, while Co-founder and Chief Business Officer Anurag Dwivedi was a Product Manager. After TaxiForSure’s $200 million acquisition by Ola in 2015, they started Rocketium to make digital content visual and more effective.
Raghunandan G, Founder and CEO of TaxiForSure, said, “Video is the new HTML. Rocketium has tapped into a large global market by facilitating the creation of amazing visual content that can be shared across platforms.”
Developed over two years, Rocketium’s proprietary technology automates the work of a talented video designer. In all, 62,000 media, commerce, and nonprofit organisations from 85 countries use Rocketium to create thousands of videos daily.
Karthik Reddy, Managing Partner of Blume Ventures said, “Rocketium is solving a global problem by making information more accessible with videos. We are seeing the explosion of video content across categories, and believe Rocketium can help all manner of businesses make the most of videos.”
The team claims to touch double-digit growth and expects to reach Rs 6 crore in annual revenue at the end of this financial year.
The team believes videos are taking over other forms of content for a simple reason - a picture speaks a thousand words, but a video does a lot more with motion and sound. The team adds that 73 percent of the Internet bandwidth is consumed by video, and this will grow to 82 percent by 2021.