Bluestone Equity Partners has acquired a minority stake in VideoVerse, an AI-powered video editing platform, in a deal that sees an investment of $45 million, according to sources. The funding injection will support VideoVerse’s global expansion and innovation efforts within the media technology sector. Bluestone founder and managing partner, Bobby Sharma, will join VideoVerse’s board of directors as part of the deal, aiding the startup in scaling its global ambitions.
Vinayak Shrivastav, VideoVerse’s co-founder and CEO, expressed excitement about the partnership with Bluestone and their shared goals of global expansion and innovation in AI. The demand for intelligent software automation in short-form content and highlights is growing rapidly, and this investment is expected to drive VideoVerse’s evolution in curating and monetizing next-generation video and media.
This marks Bluestone Equity Partners’ third investment from its $300 million fund established earlier this year. The partnership between Bluestone and VideoVerse will leverage Bluestone’s operational experience and global network, particularly in sports, media, and entertainment, to propel VideoVerse’s platform. The collaboration aims to explore synergies with Bluestone’s capabilities and financial expertise to accelerate VideoVerse’s operations.
Founded in 2016 as Toch.ai and rebranded as VideoVerse in 2022, the startup utilizes computer vision and AI to generate instant key moments and short-size clips. It has evolved into a full-stack cloud-based real-time video editing platform catering to various sectors, including OTT companies, broadcasters, sports clubs, leagues, marketing agencies, and e-gaming platforms.
VideoVerse’s clientele includes prominent names such as UEFA Champions League, Wimbledon, NCAA Basketball, and the Indian Premier League (IPL). The recent funding comes amid a series of acquisitions by VideoVerse, including the acquisition of AI-powered graphic design platform Optikka in October and the US-based content generation startup Reely.ai in April.
The investment from Bluestone Equity Partners adds to the growing interest in homegrown SaaS-based video startups, reflecting the increasing prominence of AI in the media and entertainment industry.
