In a Series-A funding round, an AI-driven in-video discovery startup Tagos Design Innovations Pvt. Ltd has raised $5 million from a venture capital firm and two global corporations, the company said in a statement. Though it did not named investors.
Tagos is helping video publishers and advertisers use AI to talk to their customers, understand them and serve them better. It claims to be pioneer in-Video discovery platform, Charmboard powered by artificial intelligence, makes video respond to touch. Every touch is bookmarked, deeply categorized and persists outside the video and creates new value for content owners, publishers and viewers.
For instance, if a consumer wishes to buy a dress worn by an actor in a film, Tagos will guide the consumer to an e-tailer with whom the producer of the film has partnered and enable a purchase.
“We have been one of earliest practitioners of computer vision and machine learning at Tagos and between our revolutionary product, this infusion of smart capital and our world-class team, we couldn’t be more eager to accelerate our go-to-market strategy and enable marketers and video publishers to achieve what’s not humanly possible,” G.B.S Bindra, founder and chief executive at Tagos, said in a statement.
The funds will be utilised in product enhancement, tema expansion and to increase user base. “Marketers increasingly want to put the customer at the centre of their thinking and allow them to define each moment that matters. With our product offering marketers can create smarter journeys that deliver the right content exactly when the customer needs it,” Bindra added.
Tagos Design was founded in 2014 by GBS Bindra, Sushant Panda, and Tripat Preet Singh. Earlier, Zee Entertainment Enterprises Ltd (ZEEL) picked up 12.5% stake in Tagos for $2.5 mn.
ZEEL also acquired the balance 49 per cent equity stake in its subsidiary India Webportal Pvt Ltd for $30.7 million (Rs 197.47 crore) to consolidate the digital business.
Another startup in the space, Videotap, which is hailed as differenciator, raised $1 million only on its technology strength in Sept 2016.