Video-based entertainment platform Spoofin has raised an undisclosed amount from Mumbai Angels Network.
Spoofin is a social network where parody videos are created and shared. The app allows users to interact with and manipulate video content through a creator’s studio equipped with video editing, voice-over and audio-imposing capabilities.
Founded in April 2016, the Gurugram-based firm is scheduled to launch its minimum viable product (MVP) in international markets early this year.
“The Mumbai Angels Network has been an instrumental part of our seed round journey,” said Siddhant Sahni, co-founder of Spoofin.
Mumbai Angels Network is one of India’s largest angel networks with more than 250 members across Mumbai, Pune, Delhi and Bengaluru.
Its portfolio comprises more than 90 ventures across multiple sectors focussed primarily on seed and early-stage companies. The network mentors startups and participates in their progress.
“I see this as an interesting investment opportunity with exponential returns upon gaining scale in a thriving yet uncluttered market,” said Jatin Aneja, Deal Lead, Mumbai Angels Network & Partner at Shardul Amarchand Mangaldas.
Earlier in the day, VCCircle reported that Mumbai-based Pocket Aces Pictures Pvt. Ltd, which runs digital entertainment startup Pocket Aces, has acquired Loco, a live trivia game show app, for an undisclosed amount.
Recently, Chennai-based online video software service provider Hippo Video, which is run by Lyceum Technologies Pvt. Ltd, raised an undisclosed amount in a pre-Series A round of funding from early-stage investor Kae Capital.