Vietnamese video and live-streaming app Uiza raised USD 1.5 million from Surge, an early-stage startup accelerator program launched by Sequoia Capital, VN Express reports.
Backed by ESP Capital and Framgia Inc, Uiza is an API platform for video streaming. It allows companies to develop their own video infrastructure independent of mainstream platforms like YouTube. The company won the Tech in Asia Jakarta ARENA Pitch Battle last year, taking home a cash prize of IDR50 million (USD 3,300).
There is a huge market for on-demand video and live streaming, which is expected to account for 80% and 17% of all internet traffic respectively by 2022, according to Cisco’s Visual Networking Index study.
Uiza is one of the 17 tech startups admitted to Surge 01, the first cohort of the Surge program. Sequoia traditionally invests in post-seed and growth stages of the investment cycle and its expansion into Southeast Asia saw it investing in bigger players like Go-Jek, Tokopedia, and Traveloka from Indonesia as well as Carousell and Zilingo from Singapore. Against this backdrop, the Surge program is intended to build relationships with early-stage companies in the region.
Prior to setting up Uiza, co-founder Kevin Nguyen also founded Topica Edtech Group’s Edumall. Topica Edumall is an online platform with two million students. It offers a variety of short courses ranging from the usage of Microsoft Office applications and basic computer programming to lessons on playing guitar and child-rearing.
Editor: Nadine Freischlad