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Toch, a Mumbai-based interactive video platform which uses deep learning and AI technology, has secured an undisclosed amount in its pre-series A round funding from Mumbai Angels Network, Hyderabad Angels, Mihir Modi, and some other investors.
Founded by Vinayak Shirvastav, Alok Patil and Saket Dandotia in 2016, “Toch will use the new round funding for business expansion, hiring and to enhance technology.”
Speaking on the recent round funding, Vinayak Shrivastav, Founder and CEO of Toch, said “We are delighted to partner with MA Network, HA Networks along with the key individuals like Mr. Mihir Modi ex-CFO of ZEE Entertainment and some other investors as they support our growth roadmap in the media-tech sector and also our vision for a live commerce experience.”
“We have automated the decade-old meta-tagging opportunity and look to keep growing our revenues by 4x this year,” he added.
Adding more on this, Shrivastav said, “Toch is currently enabling meta-tagging for live sporting events, live shows, library-based content for streaming platforms and is venturing into broadcasting meta-tagging simultaneously. The platform is also gearing up for rebranded launch in the live commerce space before the end of Q3.”
Speaking on the investment in Toch, MA Network Investor, Gaurav Satija said, “As an investor in Toch, I think the AI technology created by the company will revolutionize the streaming platform industry. Toch has a huge potential in terms of customer base through Live commerce experience, which is the next big wave in the country.”
Whereas, Nandani Mansinghka, MA Network CEO and MD said, “We believe Toch is an innovative tech platform and making content shoppable is the next big move in the country. Monetizing videos will enable content creators to engage and deliver more value to customers. Toch has built a sector agnostic solution which supports the rapid growth in video AI.”
“We see technology continuing to shape the future of media and a big space for investment, which will enable us to take part in this modern shopping era that is driven by visuals. We are incredibly excited to welcome Toch to the growing MA Network portfolio,” she added.
About Toch:
Toch is an AI video platform which auto-detects any object, person, emotion, location, scene and activity in real time, inside any video content enabling monetization.
The technology detects touch points, extracts meta-data to enrich content data points, and automates the meta-tagging process.
It also is a go-to solution for multiple platforms helping them monetize content and use meta-data for various data collection internally and also supports both businesses and consumers engage with their users; bridging the gap between content and commerce through ad sales, product sales, brands, and advertisers. With Live commerce becoming the center in the country after China, Toch has positioned itself as a platform to enable the new-age discovery solution for users.