Amravati, Andhra Pradesh-based stock photo startup Picxy has raised $130,000 from angel investors which include senior executives at e-commerce giant Amazon and technology company Cisco. The names of these individuals have not been disclosed however.
The startup, which is only few months old, is being valued at $1 million, post this funding.
Founded by two entrepreneurs relocating to India from the US, Jitendra Emmani and Vamsi Mannem, Picxy.com’s business model is built around a stock of photographs on their website which they pay and collect from the best professional photographs and then these are curated with the story around the photo also created. Buyers can go through the gallery and buy and use these photographs.
Jitendra, who is CEO of Picxy, was working in the US till mid-2017 as vice-president, Strategic Analytics of Citi Group. He quit the job to establish Picxy along Vamsi. He had earlier worked with Amazon. Vamsi, who is CTO of the startup, was working as software developer for a product company in Texas.
[caption id="attachment_124591" align="aligncenter" width="700"]
Picxy co-founders | Image Via - thenewsminute.com[/caption]
Picxy, which is covering 11 South Asian countries, is in the continuous process of adding to its stock of photographs and has an ambitious target of building an inventory of 3 million photographs in the coming 3 years.
Picxy, which currently enlists 1000 photographers, runs programme in order to recruit more photographers and encouraging them to submit their work on Picxy platform. The startup also holds periodical ‘Meet ups’ in major cities to bring the photographers on their platform.
Picxy uses technology to sort the photographs and tag them and machine learning is deployed extensively to achieve this. Their photos get geo-tagged and can be searched on the map. Picxy has a corporate vision of becoming South Asia's largest stock photo company.
Some of the marquee clients the company has been able to attract so far include Ogilvy and Mather, GroupM, Govt of Andhra Pradesh and AP Tourism. There are plans to add to the product line by offering large canvas prints of the photographs that can become backdrops in interiors in large households. These will be directly sold to customers.
For India-related 'DEsi' stock photos, Picxy competes with other similar entities like Sandeep Maheshwari founded Images Bazaar, Bangalore-based Photoconcierge, Photosindia as well as global players like Getty Images and Shutterstock.
Picxy, however, wants to be different from its competitors in a way that it want to cover entire India when it comes to include photos from Indian location. Picxy claims that it now has at least one photograph from every 20 square km area. The startup also claims that it will have first-of-its-kind geo- search feature.
The above news was first reported by The News Minute.
The startup, which is only few months old, is being valued at $1 million, post this funding.
Founded by two entrepreneurs relocating to India from the US, Jitendra Emmani and Vamsi Mannem, Picxy.com’s business model is built around a stock of photographs on their website which they pay and collect from the best professional photographs and then these are curated with the story around the photo also created. Buyers can go through the gallery and buy and use these photographs.
Jitendra, who is CEO of Picxy, was working in the US till mid-2017 as vice-president, Strategic Analytics of Citi Group. He quit the job to establish Picxy along Vamsi. He had earlier worked with Amazon. Vamsi, who is CTO of the startup, was working as software developer for a product company in Texas.
[caption id="attachment_124591" align="aligncenter" width="700"]
Picxy co-founders | Image Via - thenewsminute.com[/caption]Picxy, which is covering 11 South Asian countries, is in the continuous process of adding to its stock of photographs and has an ambitious target of building an inventory of 3 million photographs in the coming 3 years.
Picxy, which currently enlists 1000 photographers, runs programme in order to recruit more photographers and encouraging them to submit their work on Picxy platform. The startup also holds periodical ‘Meet ups’ in major cities to bring the photographers on their platform.
Picxy uses technology to sort the photographs and tag them and machine learning is deployed extensively to achieve this. Their photos get geo-tagged and can be searched on the map. Picxy has a corporate vision of becoming South Asia's largest stock photo company.
Some of the marquee clients the company has been able to attract so far include Ogilvy and Mather, GroupM, Govt of Andhra Pradesh and AP Tourism. There are plans to add to the product line by offering large canvas prints of the photographs that can become backdrops in interiors in large households. These will be directly sold to customers.
For India-related 'DEsi' stock photos, Picxy competes with other similar entities like Sandeep Maheshwari founded Images Bazaar, Bangalore-based Photoconcierge, Photosindia as well as global players like Getty Images and Shutterstock.
Picxy, however, wants to be different from its competitors in a way that it want to cover entire India when it comes to include photos from Indian location. Picxy claims that it now has at least one photograph from every 20 square km area. The startup also claims that it will have first-of-its-kind geo- search feature.
The above news was first reported by The News Minute.
Advertisements