Platform-as-a-service (PaaS) startup Laminar, on Tuesday said it has raised $5.11 million (around Rs 39 crore) in its seed funding round led by Artha India Ventures (AIV).
Other investors who took part in this funding round include Leo Capital, Garuda Ventures, Cloudcap, and Sampson Acquisitions, Inc.
The London-based startup plans to deploy the fresh capital to accelerate product development and market expansion.
Founded in 2020 by Narendra Nag, Raheel Khursheed, Tirthraj Singh, Kumar Shorav, and Yin Shanyang, Laminar is a media-tech startup offering a cloud-based, fully-managed Platform as a Service (PaaS) that enables media companies and content owners to launch a global over the top (OTT) service in 12-weeks or less.
Laminar has a presence in London, Toronto, Wroclaw, Dubai, New Delhi, and Singapore and an engineering team based out of Wroclaw and Barcelona.
"Laminar will immensely benefit from the collective experience of our investors in rapidly scaling our business and expanding our global footprint. In Nielsen's recent State of Play report, the number of people subscribing to four or more services has more than doubled in the US — this is a secular trend around the world. Such growth will only accelerate as consumers coalesce around (and pay for) content that speaks to their cultural reality," said Nag.
"This is our 1st significant investment in Europe, and we are glad that it is in Laminar. Laminar gives content creators the backbone to challenge the duopoly of Netflix & Amazon Prime by building the world's first zero code cloud-based PaaS offering. We were pleasantly surprised by the width of their client base that needs Laminar to solve their pressing issue. Because they let OTT content providers focus on their core business - creating content! Moreover, we see immense potential in the OTT-enabler ecosystem and are glad that we backed the best team for a PaaS offering in the segment," said Anirudh A Damani, director, Artha India Ventures.