Filmplace raises US$220,000 to help influencers, media houses shoot content in unique rented spaces
Investors: New York’s Admiralty Holdings.
What the funding will be used for: Bolster infrastructure, marketing capabilities and tech solutions to expand further into Southeast Asia.
About Filmplace: Based in Singapore, Filmplace is a platform that connects brands and the media production industry with unique locations to shoot. It helps film companies and influencers secure a location within a short period of time at an affordable rate.
More about the story: Lincoln Lin founded the company when he experienced the difficulty of sourcing for locations while working as a director in the film industry.
“Currently, production companies need to hire a location manager which costs US$300-US$500 per day to nail down a couple of locations. The companies will then need to receive the locations, so it is very labor-intensive and manual,” Lin said.
“Traditionally, the location manager takes four to seven days to scout a location. On top of that, there is no fixed price, the catalogs are outdated, and multiple risks such as unsecured payment transactions are involved,” he added.
Filmplace has branch offices in Malaysia, Taiwan, South Korea and India.
Rephrase.ai, a mail-chimp like startup for videos, nets US$1.5M seed funding
The story: Rephrase.ai, a synthetic media production platform, has raised US$1.5 million in seed funding
Investors: Lightspeed Ventures and AV8 Ventures.
What the funding will be used for: To scale its platform, strengthen its presence in North America, and hire across engineering and research roles.
About Rephrase.ai: An AI-powered platform that helps businesses create personalised, customisable video content for sales and marketing.
More about the story: Rephrase.ai was founded in 2018 by three Indian Institution of Technology graduates — Ashray Malhotra, Shivam Mangla, and Nisheeth Lahoti.
“Our goal at Rephrase.ai is to reimagine how we communicate to better match our visual culture,” Malhotra said.
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“Now, enterprises can create high-quality video content for targeted sales and marketing initiatives while saving time and money. This technology will change the way we think about video production, both for business communication today and filmmaking in the future,” he added.
Line Financial, Mizuho Bank invest US$112M into their online bank
The story: Line Financial and Mizuho Bank have invested US$112 million into their planned internet bank, Line Bank.
The aim: The companies said in a joint statement that the necessary steps are being taken as they proceed to establish a user-friendly online bank connected to the LINE app in Japan by 2022.
More about the story: To further strengthen cooperation between LINE Financial and Mizuho Bank, a co-CEO management structure will also be introduced.
As opposed to the current CEO headed by LINE Financial, a co-CEO will now be appointed by Mizuho Bank.
Image Credit: Filmplace
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