Vloggi named Australian finalist of Asia-based $1.5 million VC prize as part of StartCon 2019
- US venture capital firmÂ EDGE196Â identifies Vloggi as 'offering a globally scalable solution following in footsteps of Canva'
- VC firm says Vloggi solves problem of video being â€˜expensive, complicated and slowâ€™
- Final winner of A$1.5 million to be announced in March in Asian final
SYDNEY, November 25, 2019Â -Â Video content marketing disruptors VloggiÂ have been named as one of three joint winners of the pan-AsianÂ Pitch for US$1 MillionÂ competition. Vloggi is now one of three Australian startups in the running to receive a $US1 million ($A1.5 million) capital investment fromÂ US venture capitalist family office EDGE196.
The announcement was made at the weekend during the final day of StartCon 2019, the premier event showcasing the best of Australian tech and innovation, held at Sydneyâ€™s Randwick Racecourse. The highlight of the event is theÂ Pitch for $1 million contest, which selects the top start-ups in Australia.
EDGE196 founder Jay Patel said the Houston, Texas-based investor was especially interested in startups with â€œglobally scalable solutions in growing marketsâ€.
â€œVideo content is already transforming the whole digital presence,â€ he stressed, adding: â€œWith Vloggi weâ€™re hoping to see another Canva sort of story.â€
Each finalist was asked to deliver a final pitch to the assembled audience of their peers, investors and media, helping to cap off yet another successful StartCon.
â€œWeâ€™re solving the problem that video is really expensive, itâ€™s complicated and itâ€™s slow,â€ said Vloggi founder and CEO Justin Wastnage.
He explained there are â€˜thousandsâ€™ of companies in the video space, but that Vloggi is the only one to successfully marry crowdsourcing, video assembly and video templates in helping marketers and â€˜story tellersâ€™ across industries spanning travel, publishing charity / NFPs and others to create truly engaging authentic video content with minimal complexity and cost. Watch the full pitch below.
â€œCollaborative video production is truly going to revolutionise content marketing.â€JUSTIN WASTNAGE
The final winner of the $1.5 million EDGE196 prize will be announced in Kuala Lumpur in March.
Vloggiâ€™s selection by EDGE196 as a finalist for one of this yearâ€™s richest startup prizes follows last monthâ€™s announcement of a major platform update ahead of the official launch in early 2020.
Founded in 2018, Sydney tech startup Vloggi is the worldâ€™s first collaborative video production platform using AI to process, sort and annotate user-generated video for use by businesses and social groups. It is a registered trademark of parent company, tech investment vehicle CinÃ© Souk, founded in 2017.
The company was founded by Justin Wastnage, a former director of the Tourism & Transport Forum, and founder of the Flight TV aviation video channel. Wastnage started his career with interactive digital television pioneer Static 2358 (later PlayJam) before creating video content for Microsoft. The company also includes lead developer Tim Revell, who holds the patent for the first video streaming service over mobile telephones.
Vloggi employs six staff, and is based out of the Fishburners co-working space within the Sydney Startup Hub (SSH).