Vochi App, a Belarus based startup, responsible for creating a computer vision – based app for video editing and effects for smartphones has recently secured a $1.5 million funding in seed. Genesis Investments, a Ukraine based backer of startups like BetterMe and Jiji, is leading this funding round.
This fresh raise is followed after a pre-seed funding in April 2019 from Bulba Ventures, the previous place of work for CEO and founder Ilya Lesun, who held the position of a product analyst there. Lesun quickly recognized the opportunity to make it big in the video content industry, which has been witnessing a boom through short video platforms like TikTok App. This is what made him think about creating an app that highlighted its users, and also made creative video editing a very simple job.
Vochi App uses a video segmentation algorithm by the assistance of its computer vision, that allows users to use editing effects on a single object in their Vochi videos, paving way for a number of opportunities for unique content. The object segmentation is made possible by two Convolutional Neural Networks (CNN) which works in sync with its video segmentation algorithm, churning a great video editing experience for content creators.
As far as the market for such an app is concerned, TikTok alone has about 500 million active users all over the globe, who are on a constant lookout to find out new ways to create videos that helps them differentiate themselves from the other users.
After this investment, CEO Ilya Lesun stated-
“Becoming partners of such an experienced team as Genesis opens great and exciting opportunities. This partnership will help us grow Vochi app as a global product, building a strong monetization model and implementing new, impressive features.”
Vitaliy Laptenok, the Genesis Investments CEO, added-
“We are excited to work with such extraordinary founders to help them build a new tool to make self-expression through video easier. Their deep technical expertise coupled with our digital marketing experience will help Vochi app achieve extraordinary results and disrupt the global video editing industry.”
