Posco Venture Capital has led a $3m Series A for online video technology startup Shakr, which also received funds from angel investors and the Korean government as part of the round.
Shakr will use the funds to invest in technology and human resources. It said that it has made significant improvements in its user interface, enabling customers to edit and put text in existing videos.
Shakr founder and CEO David Lee said, “With this latest funding, Shakr will expand its motion graphics marketplace and push more heavily into the advertising sector.
“Long dominated by large companies, Shakr is democratizing video ads so that small businesses can participate, alongside bigger players.”
Recent venture deals in Korea include CyberAgent’s investment in Woowa Brothers Corp, the developer of the Baedal Minjok food delivery application for smartphone.
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