SV Frontier, a Japanese fund based in Silicon Valley focused on startups, announced today that it has invested in Shakr Media, the Korean startup behind video ad production platform Shakr. While details of the investment have not been disclosed, Japan’s Nikkei Computer reported that the Korean company has secured funding up in the hundred thousand US dollars level. Shakr Media plans to establish an office in Japan in 2015 with assistance from SV Frontier and other companies.
Shakr is an online video production platform which enables users to easily create promotional videos of people or merchandise using templates. The company has crowdsourced designers creating these video templates, and these designers will get paid on a revenue-share basis when their template is adopted by users. Users need only about ten minutes to create a video clip, but have to pay $50 for downloading it.
Shakr Media participated in the pitch competition at Asia Beat 2014 in Taipei last December, where they unveiled the partnership with Taiwan’s electronics manufacturing company Foxconn to increase the variety of templates. Shakr Media appears to be planning an expansion in their sales channels by leveraging partnerships with big companies, especially those in Asia.
Since its launch back in 2010, Shakr Media has attracted funds from 500 Startups (US), NHN Investment (Korea), Posco (Korea), and the former president of Korean distillery Jinro. For Shakr Media, the funds this time includes the first cash inflow from a Japanese investment fund.
Yozo Suzuki, founder and CEO of SV Frontier, says he believes that through his investment in Aarki and Virool startups in the video ad space will emerge; he decided to invest in Shakr Media this time based on such a belief.
Edited by “Tex Pomeroy”