12:24 (GMT +7) - Tuesday 21/05/2019

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Uiza closes $1.5 mn seed round from Surge

Released at: 11:25, 19/04/2019

Uiza closes $1.5 mn seed round from Surge

Photo: Uiza

Deal provides new funding to video and live streaming platform.

by Hong Nhung

Uiza.io, a startup providing streaming operations that aims to make video universally accessible and which was previously backed by ESP Capital and Framgia Inc, announced on April 19 the closing of a $1.5 million seed round from Surge, a rapid scale-up program for startups in India and Southeast Asia.

The funds will be utilized to build products to serve the multi-billion-dollar market of video streaming software. Uiza tackles the problem of video delivery, especially in developing countries where infrastructure is extremely fragmented, by offering hardware-agnostic software coupled with a distributed edge delivery network to help clients broadcast video content globally at a local cost.

Video streaming and live streaming will account for 80 per cent and 17 per cent of all internet traffic by 2022, according to recent Visual Networking Index research conducted by Cisco. In the next three years, the world will witness furious growth in video streaming at a compound annual growth rate of 33 per cent for video streaming and 72.7 per cent for live streaming.

Over the last decade, video has been shaping the way people communicate, consume information, receive education, and conduct commerce. The diversity of use is continually compounding, including games streaming (both video games and board games), insurance claims, digital therapy, live streaming commerce, and interactive education, among others.

Despite the rapid growth of video, the adoption of both video and live streaming is challenged by its own complexity, which lies in both software development and infrastructure. Video streaming requires in-depth expertise to develop and substantial computing resources, especially bandwidth, to process and deliver.

Uiza’s platform leverages machine learning and data science to streamline this workflow and make the best in-local content delivery routing decision. All the complexity in the process is hidden behind a simple API through hardware-agnostic infrastructure, giving users complete control, high availability, and unlimited scalability. This makes it possible for developers to add both video and live streaming into their application with a few lines of code, in a simple, fast, and cost-effective way.

The company’s customers include e-commerce platforms that allow sellers to demonstrate their products and interact with buyers in real time through livestreaming, a regional online education company that delivers learning materials to millions of students in Southeast Asia, an e-sports streaming platform in Indonesia, and LINE, which uses Uiza’s platform to stream content that caters to millions of women in Vietnam.

“At Uiza, we believe that enabling developers, startups, and businesses with video capability is a great way to have a positive impact on society and make the world a better place,” said Uiza CEO Kevin Nguyen. “We’ve been helping our customers to stream hundreds of thousands of educational videos, build live streaming marketplaces for thousands of merchants in developing countries, and deliver petabytes of knowledge, information, and entertainment in the form of videos.”

“We plan to use this latest fund raising to attract talented engineers so we can deploy our proprietary technology globally, hence delighting developers and businesses in ways that they have yet to experience.”

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