Nickhil Jakatdar cofounded VuClip raises $8 Million

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Santa Clara: VuClip raises $8 million in the third round of funding. The fund will be used in enabling the organization in delivering videos to all sorts of mobile devices, reports VentureBeat. California-based VuClip specializes in trans-coding video or creating software programs that converts video from one format to another. Currently it is serving 2 billion video views across 5,400 different mobile device types. It took only eight months to serve the next billion compared to 31 months which it took to serve its first billion videos, says VuClip. On date, the company delivers 10 million videos a day to users in more than 200 countries. The market for such kind of video sharing is continuously increasing because of the increase in the number of mobile users and people sharing all sorts of content with their friends. Cisco predicts that mobile video will grow 26 times more from 2010 to 2015. Co-Founded by two eminent personalities in 2007, Nickhil Jakatdar and Zhigang, VuClip has raised $22.1 million from Jafco and NEA till date. Nickhil Jakatdar, the CEO of the company, has experience in founding and running three successful start-ups, Praesagus, Command CAD and Timbre Technologies. To his credit, he has more than 30 patents and 20 conference papers. Zhigang has over 15 years of experience in research and development of Internet and Mobile multimedia. He co-founded the first Web-based video streaming company, Vosaic. The current round of funding came from New Enterprise Associated and Jafco Ventures. The fund will be used to boost its worldwide growth and expand its regional teams. Jakatdar said that they have spent the last few years cracking the code on delivering the videos and foresee viral growth driven by sharing of compelling local video content. The company provides a browser-based solution that uses HTML5. They secure exclusive local content in major international markets which has prompted major mobile carriers to distribute VuClip directly to consumers. Their distribution partners include Bharti Airtel, DoCoMo and Vodafone (India), Maxis (Malaysia), Telkomsel and XL.

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