Visinema, an Indonesia-based entertainment and IP development company, has secured a Series A funding of $3.25 million led by Intudo Ventures with participation from existing investor GDP Venture, and Ancora Capital.
In a statement, Visinema says it will use the corpus to build capacity in animation production, enhance talent acquisition, and drive international expansion.
Founded in June 2008, Visinema produces and distributes a wide range of entertainment content for audiences across several formats, including film, television, and digital.
The company’s core offerings include Visinema Pictures, which develops theatrical releases; and Visinema Content, producing serial content for brands and digital OTT/SVOD platforms such as Netflix, iFlix, and Goplay.
In addition to its core business, Visinema has developed a comprehensive end-to-end studio ecosystem for film development from conceptualization, production, talent development and recruitment, distribution, and monetization.
The company’s Visinema Music division produces and monetizes music for films and develops music talent; its Visinema Campus is its talent development, creative lab and recruitment arm; and Skriptura, a writers’ room for creative & IP development.
The company has partnered with both multinational and local brands to produce quality digital content for the Indonesian market, including Unilever, Danone, Mayora, Toyota, Honda, Bank Central Asia (BCA), Blibli, JD.id, and many others.
Fuelled by the fresh investment, Visinema says it will build up competency in animation production by collaborating with and acquiring local animation studios, with its first feature animated film to be released in 2020.
Additionally, Visinema plans to expand its footprint beyond Indonesia through direct business operations and partnerships to share Indonesian stories with more audiences in Southeast Asia and around the world. The company will also enhance its talent acquisition capacity to provide higher quality content to its users.
“Indonesia’s domestic film industry has experienced rapid growth over the past few years, both in terms of feature-length films and unique content formats, and there continues to be significant demand for high-grade local content. With in-house produced Hollywood-caliber content, we believe that Visinema is well-positioned to tell more Indonesian stories to audiences both domestically and around the world,” said Intudo Ventures founding partner Patrick Yip.
The film industry has of late been attracting VC interest in Indonesia. Last year, Ideosource, one of Indonesia’s earliest venture capital firms, has launched a $15 million Film Fund to invest in film-making projects.
For Ideosource, its investment in films comes after the full deployment of its $15-million tech fund, through which it invested in 27 early-stage tech startups, including aCommerce, Orori, e-Fishery, and Bhinneka.