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Sourav Ganguly makes first start-up investment; personal video mag Flickstree raises Rs 3 cr
MUMBAI: Mumbai-based video content discovery platform Flickstree has raised a seed capital of Rs 3 crore from investors including former India cricket captain Sorav Ganguly. This round of funding is led by Venture Catalysts.
Kolkata-based Aditya Group’s Anirban Aditya and Ankit Aditya, and Moksh Sports Ventures also participated in the seed round.
The investment marks Ganguly’s foray into the start-up world.
“Flickstree helps users follow their passion and create their personal video magazine. Such a model has the potential to change the way videos are consumed,” said Ganguly.
Flickstree was started by Saurabh Singh, Rahul Jain and Nagender Sangra in 2014. Billed as India’s first personal video magazine, the platform officially launched in August 2016.
It is a curated and personalised video platform for free-to-watch videos. Flickstree compiles these free-to-watch online videos from social networks, media sites, and blogs and then creates a custom user video feed. The AI, based on patent pending technology, allows Flickstree to curate and personalise the experience for its users.
Flickstree has bucketed 20+ video categories that users can currently follow, and they are constantly adding more categories on the platform.
Flickstree CEO Saurabh Singh said, “We are delighted to have Sourav Ganguly on board as a partner, investor and a catalyst who really believes in our idea. India is witnessing video boom and with the launch of 4G, suddenly it has exploded further. With so many content producers creating quality content, it becomes difficult for users to discover videos across multiple platforms. Flickstree is trying to organise video content from the free web for users.”
“The free-to-watch video space is extremely fragmented, with multiple players creating tons of video content. These videos are published exclusively on separate platforms; a user who has interest in several categories cannot install multiple apps and keep browsing them separately, also owing to limited phone storage. This leads to poor video discovery. Flickstree is trying to solve this consumer problem,” said Moksh Sports Ventures co-founder and business development consultant Satadru Dutta, who was instrumental in bringing Ganguly and Aditya Group on board.
“Dada has always backed youngsters and accepted new challenges,” concluded Satadru Dutta.
Flickstree is also a Facebook-backed company via their FBStart programme. Currently with 20+ video categories, users can follow and create an interesting video magazine on Flickstree.