Early-stage video production company Aframe has attracted £2 million in fundraising to continue its expansion plans and development.
Early-stage video production company Aframe has attracted £2 million in fundraising to continue its expansion plans and technological development.
A mixture of media industry players, angel investors and venture capitalists invested £1.5 million in the company during its latest investment round, according to founder and chief executive officer David Peto.
The company, which started operations in April last year with seed funds of £500,000, launched its beta service to the commercial market last month. It is based in London and Sunderland.
Aframe technology enables video to be shared and stored online, and metatagged, a process where keywords are attached to parts of video so that search engines or archivists can find content.
Peto comments: ‘We have gone from one to 26 staff members in 18 months but most importantly nine of these are based just outside Sunderland where we are building the heart of the business, our operations and metatagging centre.’