TrueFan AI, an Indian startup offering AI video tools for enterprises, has raised $10 million in a series A round led by Baring Private Equity Partners India and Z3Partners. Existing investors IAN Alpha Fund and 3Lines Venture Capital also participated.

Chief executive Nimish Goel said the deal valued the startup at $40 million post-money.

The company said it works with more than 100 enterprise customers, including HDFC Bank, Bajaj Finance, Zomato, Cipla, and BharatPe.

TrueFan sells an enterprise AI video platform for marketing, customer engagement, training, and business communications.

The startup plans to expand into Southeast Asia, the Middle East, and the US. TrueFan has raised $21 million to date, including an earlier round of about $3 million in 2020.

The funding comes as enterprises shift spending from traditional production houses and agencies to AI content creation. In India, the market for these tools is still less mature than in the US and Europe.

🔗 Source: The Economic Times