VuLiv in talks to raise $4 million funding
Gaurav Laghate | ET Bureau | March 19, 2018, 07:47 IST
This will be the first institutional funding for VuLiv, that was founded in 2015 by former Micromax vice president Manoj Gupta
VuLiv, a tech-based media player startup, which allows its users to view and share on-device video content without Internet, is in talks with multiple strategic investors to raise $3-4 million in pre-Series A funding.
This will be the first time for the company, founded in 2015 by former Micromax vice president Manoj Gupta, to get institutional funding.
“We are in talks with multiple strategic investors and within 2-3 months we should close this round,” Gupta told ET. “These include Indian and international companies. We don’t want just financial investors, but someone who can help us grow with the right product vision.”
The money raised will be used as a growth fund to launch new products and unlock global value, Gupta said.
So far, the company has spent $3 million in the last three years. It claims that the app VuLiv Player is the world’s only mobile technology for simulcasting a user’s videos, music, photos on multiple screens including smartphones, computers or even smart TV without any additional hardware or the need to transfer the file, even without internet or any additional cost.
The app uses proprietary software technology to connect with multiple smart devices at the same time and creates one host to manage playback controls or playlist combinations. The technology is native to smartphone hardware and is built on core communication protocols, which allows the host to beam dedicated speed for each connected device with no loss of content quality or buffering unlike faced even in a 4G network.
Gupta said that so far VuLiv has got 11 million customers, without spending any money on marketing or promotions. “We are soon going to touch a billion media sessions with over 300 million videos,” Gupta said.