Tech startup Vino is raising $30M Series A funding from Silicon Valley investors
Posted On August 1, 2021
Tech startup Vino, which provides a cloud-based virtual reality platform, announced Wednesday that it had raised $30 million in Series A financing from a group led by venture capital firm Founders Fund.
The round was led by Fidelity Investments and Andreessen Horowitz.
The company is expected to report its first-quarter earnings in the first week of March.
“We have been fortunate to make significant progress in building out a platform for people to create, test, and publish content with no prior experience, making it ideal for entrepreneurs, small teams, and startups,” Vino CEO Joris Vonders said in a statement.
“As an accelerator, we have an established track record of working with large and small startups to accelerate the development of their business models.
We believe the VC-backed Series A will help us accelerate our growth.”
The company was founded in 2014 by two students in Denmark, two former students in Germany and a former engineer in New Zealand.
In August of that year, it announced that it was launching a service to help creators share content on the platform, allowing them to earn a monthly payment for creating their work.
The service was later expanded to include creators who were employees of the company.
In a statement, Vondars said he was looking forward to bringing his vision to life and working with Founders to ensure the service was “capable of delivering on our mission.”
Vino’s platform is designed to enable creators to upload and share content in virtual reality (VR), with the goal of making it easier for creators to monetize their work by charging creators a monthly subscription fee for their content.
In the past, Vino has worked with major VR developers like Oculus VR and Facebook, but with less success.
“Vino’s platform offers creators a way to monetise their content and increase the visibility of their content,” Vondes said.
“With the success of VR and social media, creators can now monetize any content with the click of a button.”