Good morning, Anmol here and we're on to the Tuesday with a couple of companies just raised money who I found quite interesting- Smallcase & Rephrase
➡️ Smallcase, an investment startup, has raised a $14M Series B led by DSP Group with participation from prior backers Sequoia Capital India, Blume Ventures, Beenext and WEH Ventures and new investors Arkam Ventures, Utpal Sheth and Kunal Shah & even comedian Tanmay Bhatt.
➡️ The company plans to use the capital to enhance Smallcase's infrastructure stack, add more investment products & partners as well as ramp up hiring. The company has seen massive growth in the last two years to over 1.5M having transacted over Rs. 5000 Cr.
➡️ The product lets users pick "cases" or ETFs of a portfolio of stocks so users can build a diversified portfolio. They also let users create their own cases if they please. I think Smallcase's investor from the seed round, Karthik Reddy puts it best when he says: "innovating the asset class seldom happens and the fact that this young band attempted it and got here is very satisfying, even if the 100x journey just getting started"
➡️ The pandemic has seen a surge in new retail investors, and a platform like Smallcase is the perfect environment to get started with investing in the market.
2. https://tcrn.ch/2G8jCB9: Rephrase raises a $1.5M seed round
➡️ Rephrase AI, which was a part of Techstars Bangalore program in 2019, has raised a $1.5M seed round from Lightspeed Venture Partners and AV8 Ventures, I came across the company when Lightspeed Partner Hemant Mohapatra tweeted a video announcing their fundraise and it looked super slick to me.
➡️ The company's technology is quite incredible- it's aim is to reshape how videos and movies are made. The way it works is that you select a model, background & voice, and enter a script and it generates a video. The way they are currently positioning it is as a sales and onboarding tool which does make sense.
➡️ From the sales angle, companies will be able to create personalized video messages for prospective clients, and with Looms having become somewhat popular in Sales Orgs in America, Rephrase might help automate that.
➡️ There are certainly some ethical concerns with a product with such power and I think Rephrase will have to ensure they stay true to the company's mission and don't delineate from it. They do have some very strong policies in place, i.e "Presenters can control who has the authority to create videos using their faces, the platform is only open to authorized businesses and videos are created from scratch" and I'm sure the company will very cautiously onboard new customers.
➡️ Here's a demo of the product icymi: https://twitter.com/MohapatraHemant/status/1309527565988540418
Feedback & ❤️ always appreciated BONUS (Tweet of the day): https://twitter.com/BKartRed/status/1310552345688846336
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