Start Singapore

Video stock start-up gets funding

Local start-up MotionElements has created Asia's largest royalty-free marketplace, where it matches video makers, including video bloggers, with buyers of video content.

To spread its wings, the firm - founded in 2010 - raised an undisclosed sum in a funding round last week, to be used for product development and to expand its business operations.

The investors were local and foreign venture capital firms KK Fund, Incubate Fund and 500 Startups.

Using the marketplace, any film maker or website developer who wants to include video footage in their production can seek this content at MotionElements.

They need to pay only once to use the content.

For their part, video makers can also list their work on MotionElements, as a way of selling their work to a wider range of potential buyers.

Co-founder Mark Sun said: "What attracts many artists to creating and selling stock media is that you retain ownership or copyright of your work while allowing buyers to license your work."

MotionElements sells to users from 70 countries. It is popular with video makers and users in Japan, South Korea, Germany and the United States. For business expansion, it is targeting countries like Spain, Thailand and Russia.

Geo-tracking firm acquired

Singapore start-up Folr which provides geo-location tracking services has been acquired by an American firm, Rhodes Edge, for an undisclosed sum.

It is the fifth start-up to be acquired this year.

Folr's products will be added to Rhodes' offerings which track the geographical movements of assets such as people, vehicles and items.

Rhodes president Dawn Young said in a media statement that Folr's products can be used by customers in the public and private sectors for asset management and location awareness.

Folr's apps update a business administrator on the location of assets, using a combination of Wi-Fi, global positioning satellite, and mobile cell tower triangulation.

It can gather a lot of information from anyone using the app or desktop administration tool.

JFDI invests $350,000 in seven start-ups

Seven start-ups have won $350,000 in funding from local accelerator Joyful Frog Digital Incubator (JFDI). The start-ups, from countries including Ireland, South Korea and the United States, are taking part in JFDI's latest start-up bootcamp.

They were selected from 293 applicants. They include start-ups which provide services such as technical support, audience insights and short-term rentals.

Each start-up received $50,000 and other services like mentoring and technical assistance.

Crowdonomic gets IE assistance

Local crowdfunding start-up Crowdonomic has been given a leg-up by trade agency IE Singapore.

Crowdonomic has been accepted under IE's Global Company Partnership programme, where it will get help to open new markets and financing. It will also receive assistance to enhance internal capabilities and manpower development.

This programme is open to local companies to become globally competitive.

Grace Chng

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A version of this article appeared in the print edition of The Straits Times on September 03, 2015, with the headline 'Start Singapore'. Print Edition | Subscribe