Seamovation Labs, a Bangalore-based startup has raised Pre-Series-A round funding round of $2 million for its product enKast, which enables modeling and talent agencies to monitor and optimize available resources in real time.
The startup has raised funding from Ivy League Alumni Angel Network led by Manish Maheshwari, chief executive at Network 18 Digital and former head of Flipkart’s seller marketplace.
Amruth Charmana M, CEO of the company, said,
This funding will enhance the scalability and quality of enKast’s on demand platform and utility application suits. We will be strengthening our core team with more focus on artificial intelligence, which will aid production housesagencies in decision making capabilities more accurately.
Manish Maheshwari, who has invested in the company, said,
enKast helps agencies manage and showcase their models and talent artists. It is a simple and easy to use cloud-based software product. It has rich utility tools, which enables them to increase performance and become more competitive. The pain point addressed is global in nature and the way it is addressed is technologically scalable.
Founded by M Amruth Charmana, V Subhash Chandra and Eshwar Mahadevan, the company’s product — enKast, a cloud-based product, caters to fashion and entertainment industry, helping them optimise resources in real time by providing insights derived from operational and financial metrics.
According to ibef.org, the Indian media & entertainment sector is expected to reach US$ 33.7 billion by 2020 and its majority share is handled by the unorganized intermediary commerce market which has seen minimal technology penetration in the past decade.