Funding Will Drive Product Development and Growth
TORONTO & PALO ALTO, Calif., August 06, 2021--(BUSINESS WIRE)--Raiven Capital, a Canada-US, early-stage venture fund, today announced its investment in AI-driven platform Scopio, which allows artists from everywhere to sell their images -- photography, art, illustrations -- anywhere. Currently, artists from 150 countries are represented on the site.
Others joining the round include Lightspeed Ventures, DV Collective, and other angel investors: Gaingels, Joanne Bradford, former President of Honey, and VC Andrew Ogawa.
"Scopio’s mission is to empower artists by allowing them to monetize their work. The platform opens the door for artists -- 99 percent of them -- that have not been able to generate revenue. CEO and Founder Christina Hawatmeh and her team have a strong vision we believe in," said Raiven Capital Venture Partner Anna Shen.
"Raiven welcomes Christina and Nour, our first female founders, sourced by our partner, Anna Shen -- a celebration of our diversity in action," said Paul Dugsin, General Partner, Raiven Capital.
"Scopio is thrilled to have Raiven as a strategic investor. We share a common DNA and philosophy that innovation is global. Raiven has instantly brought significant value, expertise, and a network of relationships," said Hawatmeh.
"The creator economy is in its infancy and we are excited to participate," said Supreet Manchanda, General Partner at Raiven Capital. "Scopio has identified a key social need and has developed a compelling technical solution. The world’s visual storytelling will be richer for all," he said.
Today, consumers are demanding comprehensive representations of life, especially millennials who want to see authentic images of the real world. "Our AI is geared to be responsible and accountable, helping root out bias, identify and tell the world’s stories," said Nour Chamoun, Scopio co-founder, who was also featured in Forbes 30 Under 30.
Consider the potential of the creator economy, fast becoming a recognized sector. Thanks to platforms like Twitch and YouTube, creators and influencers have generated $104BN in revenue. Generation Z is the most prolific group powering visual content in history, capturing about 1.8 billion photos a day.
About Raiven Capital
Raiven Capital is a Canada-Silicon Valley Series A technology venture fund focused on the opportunities created by artificial intelligence, 5G and the Internet of Things. Raiven actively seeks passionate founders developing companies that optimize supply chains across cybersecurity, finance, energy, environment, health, medical devices, and food. Once growth is robust, Raiven exits its portfolio companies to later-stage capital in Silicon Valley and beyond.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210804005490/en/