Alven leads $2.25m round for VideoStitch

The fresh capital will enable VideoStitch to open a new office in the San Francisco Bay area, with CrestaTech and MobilyGen founder George Haber joining the company’s board. The company will also invest in new product development.

Kima Ventures also took part in the round alongside Deezer co-founder Daniel Marhely, Ixia chairperson Errol Ginsberg and Laurent Asscher, who has invested in businesses including Ixia, Orolia, Quorum and Themis Computer.

The funding round comes four months after the business launched its post-production platform.

Virtual reality start-ups have attracted significant investment from venture capital in recent years. In December 2014, Creandum sold portfolio company 13th Lab to Facebook-owned Oculus VR. Two months previously, High-Tech Gründerfonds invested in German business Immersight, which develops virtual reality software for use in the bathroom sales market.

Company
Paris-headquartered VideoStitch was founded in 2012. The company’s software stitches together video content to produce a 360° virtual reality experience. VideoStitch has around 700 clients across 45 countries.

People
Raffi Kamber, a partner at Alven, will also take a seat on the VideoStitch board. Nicolas Burtey is founder and CEO of VideoStitch.

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• Alven Capital