Live video infrastructure startup 100ms is in talks to raise around $15-18 million in a fresh fundraise from new and existing investors, according to two people aware of the deal. Three months ago, the Bengaluru-based startup had raised a $4.5 million seed fund led by Accel with participation from Strive.vc.
“100ms is finalising a $15-18 million round in which Falcon Edge’s Alpha Wave, Matrix and Accel will be the lead investors,” said one of the sources on condition of anonymity. “The round may also see participation from a couple of new investors and some angels.”
100ms offers a suite of software development kits or SDKs that allow developers to incorporate audio and video capabilities into their apps and websites. It offers customisable SDKs that let developers add Zoom-quality video to their apps in hours.
The founding team led by Kshitij Gupta, Aniket Behera and Sarvesh Dwivedi had earlier built live video infrastructure at Facebook and Disney. The startup counts Paytm Insider, BookMyShow, Townscript, FLYX and Circle among its clients.
“The deal is likely to be closed in a few weeks from now and 100ms is seeking a $100 million plus valuation in this round,” said the second source.
Queries sent to 100ms, Alpha Wave, Accel and Matrix did not elicit an immediate response. We’ll update the post in case they respond.
100ms targets industries such as edtech, telehealth, gaming retail, fitness, and audio rooms. Apart from Bengaluru, 100ms has offices in San Francisco and Seattle to tap into global clients.
100ms directly or indirectly competes with the likes of Zoom, Hubilo and Airmeet in India. Lightspeed-backed Hubilo had raised $125 million in its Series B round whereas Airmeet is in talks to raise a fresh round at a $150 million valuation. Entrackr had exclusively reported the development on November 30.