Venture capital firm ZhenFund has participated in the $1.7-million seed round of video editing platform Kapwing while Hong Kong-based Arbor Ventures has joined the $6-million Series A round of US-based globaliD.
Kleiner Perkins, ZhenFund back $1.7m seed round for Kapwing
Kapwing, a US-based video editing website, has raised $1.7 million in a seed round led by Silicon Valley-headquartered Kleiner Perkins along with other participating investors including Beijing-based venture fund ZhenFund, founded partly by Sequoia Capital China, according to an announcement.
Silicon Valley funds like Shasta Ventures, Sinai Ventures, Village Global and Shrug Capital also joined the round.
The financing will be used for product development and expansion of its online video editing platform targeted at casual creators.
Mamoon Hamid, General Partner, Kleiner Perkins, said, Kapwing makes it “easier for creators to produce and publish video at scale”. Founded in October 2017, the platform is led by Julia Enthoven and Eric Lu as CEO and CTO respectively.
Hong Kong’s Arbor Ventures takes part in $6m Series A for globaliD
US-based globaliD, which manages online identity, has raised a $6-million Series A financing round from Hong Kong-based Arbor Ventures, Altair Ventures, 500 Startups, HardYaka and Monex Ventures.
The latest financing will be used to help scale the team, product and its portfolio.
“The team at globaliD has made significant strides over the last year, turning their unique vision for identity into a reality — creating a solution which enables people to manage their online identity in an increasingly digitized society, and additionally positions the company to capitalize on a huge market opportunity,” said Wei Hopeman, managing partner of Arbor Ventures.
This is a follow-on investment by Arbor Ventures after its seed investment in the startup a year ago.