Real-time video conferencing infrastructure startup 100ms, based in India and the US, has raised $20 million in Series A funding to support the next generation of live video applications just five months after the seed round closes.
This latest round was led by Alpha Wave Incubation Falcon Edge, with participation from Matrix Partners India and LocalGlobe, as well as existing investors Accel and Strive.vc. This brings in $24.5 million in total funding raised by the startup.
The startup was created in 2020 when its founders were working at Disney+ Hotstar, one of the largest streaming platforms in India, on a feature that would allow people in India to watch matches live.
“We decided to create a feature that would allow users to watch matches on the app and chat with friends via video call to enjoy the match. We studied the available solutions and chose one of the existing video SDK providers for this; It took us four months to get the product working,” 100ms co-founder and CEO Kshitiya Gupta told TechCrunch.
“And that’s when it all started, we were like nothing, in this new world where most experiences will happen through live video, building platforms like this shouldn’t take four months,” added Gupta, co-founder of the startup with Aniket Behera and Sarvesh Dwivedi.
The challenge they faced in building the app inspired them to create a live video framework to enable edtech, fitness and entertainment companies to add Zoom-like video conferencing to their apps and stream apps live. to platforms such as YouTube and Facebook.
It took them about nine months to create a new product, which allowed the companies to integrate, test and launch it within a week.
“Most companies avoid creating this technology because it is very complex. … We target any business trying to embed video in their app. It could be an educational tech company that runs online classes, a medical tech company that runs doctor-patient telemedicine calls, or someone that sells something through live commerce,” said Gupta, who worked before joining Disney+. Video Infrastructure Manager at Meta. Hotstar.
100ms is aimed at businesses such as educational technology, telemedicine firms, and fitness studios that want to embed video into their apps. Image credits: 100ms
The startup posted 20x growth in the last quarter as demand for their product continues to rise even as live experiences remain the norm. Since last August, more than 2,200 companies have used 100ms real-time video infrastructure, including FrontRow and WhiteHat Jr, both educational technology platforms; Circle, a platform for creators and brands; Paytm Insider, a platform for live events; and Kutumb, a community app.
“I think the reason why there has been a significant acceleration is that we are reducing the integration time. We also want to create template models that companies can use to customize live broadcasts to make them more real. … For us, we feel like this will be the start of our journey into the metaverse,” said Bechera, who started out as a banker before moving on to a career in technology.
They plan to use the funds to expand the team, including hiring additional video engineers, as they work to expand the product’s capabilities.
Falcon Edge Alpha Wave Incubation Managing Director Anirud Singh, commenting on the 100ms investment, said: “Online gyms are asking trainees to report their injuries. Online schools add libraries and run 1-1 help sessions. Online dating apps strive to recreate the best virtual meeting experience. 100ms allows product makers to imagine and add complex live interactions while abstracting away the complexities of video streaming.”