Non-standard gaming niches also attract investors. Genvid Technologies, a company engaged in the creation of technology for interactive streaming of esports broadcasts, recently received almost three tens of millions of dollars from business angels.
What does Genvid Technologies do?
The company sees its mission as changing the streaming market. She criticizes the current situation, in which most matches look the same for the audience as for the players. According to Genvid Technologies managers, esports shows should not lose to traditional sports broadcasts in terms of entertainment and information content.
They have created an SDK with which it is possible to set up a set of cameras in sessions, between which the viewer will switch during the broadcast. These can be either static cameras located above the virtual battlefield, or assigned to opponents in a match.
We are not talking about cloud technology and remote computing. The SDK, as we understood, simply creates several video streams and allows the user to choose the appropriate one among them.
From whom did Genvid Technologies receive the money?
The transfer of $27 million was officially announced a couple of days ago, on November 26. The investors were both companies that had previously invested in the startup (March Capital Partners, OCA Ventures, Makers Fund and Horizons Ventures), and those whose money had not previously been attracted from Genvid Technologies (Valor Equity Partners and K5 Global). The key investor was the Galaxy Interactive venture fund.
The deal passed as a series “B”. Genvid Technologies has already “raised” resources four times before. However, this time she received the largest tranche. Previously, she did not receive amounts more than $ 10 million. In total, to date, $47 million has been invested in the startup by third-party companies.
What will the money be used for?
The “B” series usually involves raising money for the development and growth of the business. Also, “most often this means the transfer of the company’s business model to new markets.”
This is also true of the current deal. According to the company, the money received will be used for further improvement of the SDK, as well as the creation of a full-fledged service platform for developers interested in the development of streams for their games. Plus, Genvid Technologies is going to go beyond the exclusively video game niche and engage in sports broadcasts.