ESP Capital-backed Uiza raises $1.5m funding from Sequoia’s Surge

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ESP Capital-backed Uiza, a video and live streaming platform, has raised a $1.5-million seed round from Surge, a rapid scale-up programme for startups in India and Southeast Asia by Sequoia Capital India.

The funding raised will be utilized for building a product to serve the multi-billion-dollar market of video streaming software, Uiza said in a statement on Friday.

Uiza claims to be the first startup in Southeast Asia to provide video and live stream cloud API platform. It uses data science to optimize the viewing experience as well as live stream.

“We plan to use our latest funding raised to attract talented engineers so we can deploy our proprietary technology globally hence delighting developers and businesses in ways that they have yet experienced,” said Uiza CEO Kevin Nguyen.

Uiza had earlier raised an undisclosed sum of pre-seed funding from homegrown venture capital firm ESP Capital and Japanese IT Corporation Framgia Inc.

The Vietnam-based startup is one of 17 startups in the first batch of Surge. According to an announcement on its website, Surge has invested seed money of $1.5 million each in these companies, who hail from India, Indonesia, Singapore, Vietnam, and Bangladesh.

Some of these startups have additional co-investors on top of Surge, bringing the total haul for the batch to around $36 million.

Launched by Sequoia India, Surge combines $1.5 million of seed capital with company-building workshops, global immersion trips and support from a community of exceptional founders.

It is designed to work with a mix of companies; that could include founders with just an idea, to those at pre-launch or pre-seed, businesses with an existing product-market fit or even startups intending to pivot.

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