TA Ventures and ICLUB invest in Belarus-based startup VOCHI
Venture capital firm TA Ventures and private investors club ICLUB have invested in Belarus-based startup VOCHI, as the VC firm reported to AIN.UA. The company develops a video editing app that uses computer vision in its technology.
VOCHI raised $2,4 million in a late-seed round. Besides TA Ventures and ICLUB, the company got financing from Angelsdeck, A.Partners, Startup Wise Guys, Kolos VC.
What is Vochi
VOCHI is an app for creative video editing. At the moment, video editing apps don’t allow creating professional and creative content “on-the-go.” The established tools like Premiere Pro, Final Cut, or iMovie are complicated, while mobile apps provide monotonous presets.
There is a need to have several costly subscriptions for professional content creators, and VOCHI solves this problem with one app. AI algorithms allow you to create professional content with presets and on-the-go effects. The technology is key to a company’s success: thanks to the algorithms, users can create complex effects using their mobile devices.
VOCHI’s users pay a weekly subscription fee for access to all the tools and presents: $7.99 per week or $39.99 for 12 weeks. But one of the reasons for the company’s success is the fact that around 60% of the effects and filters are available for free.
Currently, the startup has over 500,000 monthly users and has achieved a $4 million-plus annual run rate.
TA Ventures Investment Rationale
Elya Chiechienieva, Investment Manager at TA Ventures explains the fund’s rationale for this investment: “The global market for content editing applications is already large and rapidly growing due to the popularity of social media and services for creating and viewing short videos. Made for professional content creators, influencers, and bloggers, Vochi helps to create unique viral content on a smartphone in real-time, without loss of quality. The technology behind uses a top-notch AI-based computer vision video segmentation algorithm, this makes it hard to replicate. The highly-motivated and talented team showed top-line growth in user base, key metrics and is not going to stop there.”
The company will use new funds to grow its subscription base, improve engagement, and add new features, which will create a path to raising Series A.