500 Startups invests in Tokyo/Singapore-based interactive media platform startup, Cinemacraft, bringing total investments to US$900,000.
After a reported S$1 million dollar funding round lead by Jungle Ventures in October last year, Cinemacraft today announced further investments from 500 Startups. According to the official press release, this round of investment from the global business accelerator led by Dave McClure brings the total investment in Cinemacraft to US$900,000.
Cinemacraft is also a recipient of a research and development grant from the Infocomm Development Authority of Singapore (IDA), spread over two years. e27 had the opportunity to interview Sandeep Casi, CEO and founder of Cinemacraft, to find out more about the company.
In the press release on the investment round, Sandeep Casi said, “It’s heartening to be included among some of the world’s brightest emerging companies. This vote of confidence from 500 Startups will help us further streamline our product and strengthen the roll-out efforts in our core markets of Japan, US, India and Indonesia.”
Sandeep also said that, “Our solution enables us to deploy interactive media applications on low bandwidth, high latency networks in emerging markets as well as leverage the robust connectivity of developed mobile markets. We’re excited to be working with content partners, ad agencies, and the entire mobile ecosystem to effectively deliver on the increasing demand for video on the go,”
“The mobile video consumption continues to increase in Japan, US, & Southeast Asia as smart phones and tablets penetrate at a rapid pace. Most videos today on mobile are delivered for passive viewing. Cinemacraft with its disruptive media delivery platform is poised to be a leader in interactive consumption of videos and a new breed of interactive video intensive apps,” said Dave McClure, founding partner at 500 Startups, in the press release.
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