Singapore and Tokyo-based Cinemacraft receives funding from 500 Startups

Cinemacraft, a Singapore and Tokyo-based interactive media platform startup, has announced today an investment from 500 Startups, a Silicon Valley startup accelerator.

This injection comes within months of earlier investments from Singapore-based Jungle Ventures and other angels. To date, Cinemacraft has received US$900,000 in funding, and also a research and development grant from the Infocomm Development Authority of Singapore (IDA), which is spread over two years.

The startup’s flagship product is a proprietary cloud based platform that allows content to be distributed to a multitude of mobile devices and networks. Essentially, it wants to transform every mobile device into a television.

“It’s heartening to be included among some of the world’s brightest emerging companies. This vote of confidence from 500 Startups will help us further streamline our product and strengthen the roll-out efforts in our core markets of Japan, US, India and Indonesia,” said Sandeep Casi, CEO & Founder of Cinemacraft.

500 Startups, founded by venture capitalist Dave McClure, is a Silicon Valley-based accelerator that provides early-stage companies with funding up to US$250,000 in seed investments and microfunding from the Twilio Fund. It has over 160 experienced startup mentors from around the world.

Said McClure: “The mobile video consumption continues to increase in Japan, US, & Southeast Asia as smart phones and tablets penetrate at a rapid pace. Most videos today on mobile are delivered for passive viewing. Cinemacraft with its disruptive media delivery platform is poised to be a leader in interactive consumption of videos and a new breed of interactive video intensive apps.”