Video infrastructure firm 100ms on Friday said it has secured a Series A funding of $20 million (around Rs 153 crore) in a round led by Alpha Wave Incubation (AWI), with Matrix Partners India and LocalGlobe and existing investors Accel and Strive.vc.
The startup plans to use the fresh money for video developers to build and deploy their enterprise-class applications within hours.
Founded in 2020 by Kshitij Gupta, Aniket Behera, and Sarvesh Dwivedi, 100ms aims to bring real-life interactions to the virtual world by providing developer tooling for live video.
The founding team had built live video infrastructure at Facebook and Disney.
“Building and managing video infrastructure at scale is a non-trivial problem for most organisations”, said Gupta.
“Our goal is to make it easy for businesses of all sizes to deliver deeper-than-physical live video experiences within their products in less than half-dozen lines of code," he added.
100ms claimed to have witnessed over 20X growth in usage metrics over the last quarter. Its clientele includes WhiteHat Jr, Circle, Paytm Insider, Frontrow, and Kutumb, among others.
“Zoom and similar products helped us through the surge in digital adoption. We are missing one very important fact though - real 1:1 experiences cannot always be boxed into Zoom video tiles.
100ms provides the best-in-class infrastructure to power these video experiences," said Abhinav Chaturvedi, Partner at Accel.
In 2021, 100ms raised $4.5 million (around Rs 33.3 crore) in a seed funding round led by Accel with participation from Strive.vc.
Notably, the live audio/video infrastructure services market is expected to grow from $4.2 billion in 2019 to $17.7 billion in 2024.