AI-powered video editing platform VideoVerse raises $45M led by Bluestone Equity Partners

Bluestone Equity Partners, a global private equity firm, has invested an undisclosed amount in Binny Bansal-backed VideoVerse, an AI-powered video editing platform. 

While VideoVerse didn't reveal the funding amount, Reports indicate that the startup has raised $45 million in funding. 

The investment also gives Bluestone a minority stake in the company. VideoVerse, initially known as Toch.ai, plans to use this funding to expand its global presence and drive innovation in media technology.

Transform long-form videos into short-form content 

Founded in 2016, VideoVerse, rebranded from Toch.ai in early 2022, leverages artificial intelligence (AI) models, computer vision, and machine learning (ML) to transform full-length video footage into short-form content and highlights in real-time.

The startup's flagship product, Magnifi, streamlines traditional labour, time, and cost-intensive editing processes through cloud-based AI-driven analysis, empowering hundreds of sports leagues, news & entertainment broadcasters, and streaming platforms around the world to quickly and easily curate, edit, and distribute short-form content and highlights. 

The platform claims to serve many clients, including major sports leagues, broadcasters, and OTT companies.

Addressing rising demand

“With media companies and streamers now producing millions of hours of video every minute, demand for curated content has skyrocketed,” said Vinayak Shrivastav, VideoVerse CEO & Co-Founder.

“VideoVerse’s editing solutions are now an indispensable asset within the video creation ecosystem, with Magnifi, in particular, facilitating a seamless and highly-efficient process for curation, production, and distribution," Shrivastav highlighted.

Focusing on global expansion 

The new funding will also support VideoVerse's recent acquisitions, including AI-powered graphic design platform Optikka and content generation startup Reely.ai. 

 "Our partnership with Bluestone marks an exciting phase as we forge ahead with global expansion, and driving innovation in the realm of media technology by unlocking the boundless potential of AI."

Prior to this round, VideoVerse raised $46.8 million as part of its Series B round led by Stride Ventures, InnoVen Capital, Pacific Western Bank, A91 Partners, Alpha Wave Global, 9Unicorns Accelerator Fund, and Binny Bansal.

VideoVerse's financial performance 

Despite being in the pre-revenue stage until FY22, VideoVerse reported operating revenue of Rs 17 lakh in India in FY22 and is yet to file its FY23 financial statements. The current investment from Bluestone Equity Partners marks their third from a $300 million fund.

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