Munch, a Tel Aviv, Israel-based AI-powered automation platform for social media, raised $7.2M in Seed funding.
The round was led by A* Capital, with participation from Liquid2 and Pre-Seed investors Cardumen Capital and Remagine Ventures.
Founded in 2021 by Oren Kandel and Peter Naftaliev, Munch provides an automation platform for businesses to maximize their ROI on social media content. Leveraging AI, it turns lengthy videos into bite-sized clips for social media that engage audiences and keep brands at the forefront of digital trends. It includes automatic editing, instant and precise subtitle generation, pre-scripted social media posts formulated through advanced AI technology and caters to a multilingual audience supporting over 20 different languages. Content is clipped and adjusted to always have the action at the center of the frame no matter what social media platform it will be shared on. Single purpose videos, such as podcasts, webinars, and livestreams, can be transformed into a series of engaging clips with the potential to go viral.
The company intends to use the funds for R&D, customer growth and team expansion to further accelerate its global presence after reaching $2M annual recurring revenue within 8 months. Munch has over three thousand paying subscribers worldwide with signed contracts with several major, well-renowned media giants as a primary short-form vendor.
FinSMEs
21/11/2023