27 February 2018, India:
Los Angeles based startup Vyng Inc has raised undisclosed amount of funding from Indian Angel Network (IAN). Vyng will use the investment to bring focus to the Indian market.
Paul Kats, co-founder and chief executive, Vyng, said, “We are incredibly privileged to be invested in by such an amazing set of investors like IAN. We believe that their experience and in-depth knowledge would provide a significant boost to our quest to build, introduce and further expand our innovative offerings not only in the Indian market but also worldwide.”
Kats added, “There are over eight billion phones calls on smartphones and 22 billion SMS notifications every single day. Vyng can fundamentally improve those experiences and bring value to the user at the very first touch point.”
Sandeep Soni, lead investor at IAN said, “In today’s conveyor belt of identikit smartphones, where there is little scope for innovation, it is interesting and awe-inspiring, to see how something as simple as a phone’s lock screen can be transformed into something as disruptive as done by Vyng.”
Vyng was founded by Art Haedike, Jeffrey Chernick and Paul Kats. It is a lock-screen app. It allows users to set videos as ringtones. Vyng claims to have 500 million videos played across 170 countries.
(Image – Vyng)