Powder, a French start-up that offers a video editing platform designed specifically for gamers, has raised $14 million in a funding round led by Serena, and joined by General Catalyst, Slow Ventures, Alven Capital, Bpifrance, Secocha Ventures, Turner Novak, and Kevin Hartz.
Launched in 2019 by Stanislas Coppin, Barthélémy Kiss, Yannis Mangematin, and Christian Navelot, Powder was created to provide gamers with video tools specifically designed for gaming. The start-up has developed an application and AI technologies that enable video editing on a smartphone without relying on PC software. Players can import game clips recorded on mobile (iOS, Android), PC or consoles (Xbox, PlayStation, Switch), and edit their clips using the Powder video editor.
Powder also uses technology that automatically detects the best moments of gameplay and allows them to be shared with players with similar tastes, creating "clans" on the platform. The platform currently has more than 1.5 million users.
The funding will be used to recruit around 20 people in the coming months to develop the technological infrastructure. The investment by Bpifrance's Digital Venture Fund will also help Powder expand its offering in the gaming industry.
Serena, a leading European venture capital firm, has backed several successful French start-ups, including the mobile gaming company Voodoo and the online marketplace ManoMano. General Catalyst, a US-based venture capital firm, has also invested in several successful start-ups, including Airbnb, Snap, and Stripe.
Slow Ventures, which focuses on investing in early-stage technology companies, has invested in several successful start-ups, including Slack and Postmates. Alven Capital, another French venture capital firm, has invested in several successful start-ups, including the online payment service Stripe and the mobile payment app Lydia.
Secocha Ventures is an early-stage venture capital firm that focuses on investing in technology start-ups, with a particular focus on AI and machine learning. Kevin Hartz is a venture capitalist and entrepreneur who co-founded Eventbrite, a global event technology platform.
The Powder funding round has brought together a group of experienced and successful investors who believe in the potential of the company's innovative video game recording platform.