Estonia located So.Fa.Dog, which is a video news startup has announced on 27th August, 2020, that it has raised €600K in an early investment round led by 32 investors, including founders and employees of the company.
Among some of the investors include Planet 42 founders Eerik Oja and Marten Orgna and CEO of LHV Group Madis Toomsalu, entrepreneur Kristjan Mitt. So.Fa.Dog application is available in English for iOS and Android.
Started in February 2020, by Meidla and Mihkel Oja is a video news platform where they aim to change the way people consume news by offering exclusive 10-second video news in a visually appealing and user-friendly application. They already have a team of more than 40 people from 16 different countries.
It has been noticed that during the Covid-19 outbreak and resulting lockdowns, the news websites around the globe saw a rapid spike in readers, which is due to high number of people isolating at home and surfing more online media for entertainment. So.Fa.Dog claims that presenting news in an exclusive 10-seconds video format adds on the value of interaction as well as speeding up the consumption process of news for the viewer. They also claim to offer color category like art & fashion, world economy, scientific discoveries, playing on the ‘swipe’ action known to other social media applications with news feeds.
The app’s founder and co-founders Lauri Meidla and Mihkel Oja confirmed that investors responded well to the pitch. Lauri Meidla, Co-founder of So.Fa.Dog, said, “We are very lucky to have ‘hot investors’ on board who believe in us and help us develop and fine-tune the product. Thanks to their and our customers’ feedback we have made our news clips more visually appealing, engaging and have improved the overall user experience. With the help of these investments more improvements in the journalistic quality and functionalities of the app lie ahead and we’re very excited for the upcoming months.”
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