Bengaluru based video conferencing platform 100ms recently secured USD 20 million in Series A funding. The round was led by Alpha Wave Incubation (AWI) along with the participation from other business giants like LocalGlobe and Matrix Partners India. The existing investors Strive.vc and Accel were also a part of the funding round.
The company intends to use the fresh funds to further extend its team and hire more video engineers so as to add highly efficient and innovative features to the product.
Kshitij Gupta, co-founder and CEO of 100ms was quoted saying that the company is elated to have raised such a huge sum of money within two years of its establishment. He further added that building this application which allows companies ranging from entertainment, edtech, and fitness to add video conferencing feature inside their own apps and livestream the video in platforms like Facebook and YouTube was highly challenging.
But this challenge motivated the team to build this platform which now has high end clients such WhiteHat Jr, Frontrow, Circle, Patym Insider, just to name a few, added Gupta.
It is worth noting that nearly 2,200 businesses are using 100ms platform and the platform has managed to accumulate a total valuation of USD 24.5 million.
The company’s top investor Alpha Wave Incubation released an official statement saying that 100ms has the potential to change the dynamics of live streaming technology in India. It is not only offering sophisticated live engagement to its users but is also minimizing the complexities of video streaming making it easier to operate.
Notably, 100ms is hoping to acquire unicorn status in the upcoming financial round and is currently in talks with top notch investors including domestic and global tech giants.
