Navigating the Sea of Technology, How IDenTV Raised Their $1m Seed Round

IDenTV was getting lost in a sea of tech innovation 

With an uncapped surplus of video content on the internet, Amro was stuck between his valuation potential and a washed-out product-market fit. This led to general ambiguity for the product, because of a lack of meaningful feedback from potential customers. 

Throughout its initial search for a strategic partnership, the startup focused too heavily on the narrative that surrounded its core technology. This prevented important discussions that should have centered around product validation based on customer experience and feedback. It was this lack of understanding and near-sighted dreaming that kept IDen TV from generating traction early on. 

When IDen TV went to raise capital, investors couldn’t see a direct line of value, making it difficult to generate serious interest. 

Newchip helped IDen TV gain much-needed perspective on the bigger picture for the company. This guidance helped Amro shape the company’s strategic initiatives as well as develop a roadmap for the vision of its future. 

While IDenTV’s initial goal was to just find strategic investors and quickly enter the market, through Newchip, it was able to speak with over 30 investors, internal product development teams, VCs, and institutional investors. 

“There’s always a need to reinforce your knowledge that you can apply to your business. Newchip’s curriculum has value, its feedback is unparalleled, and being able to interact with  founders from all around the world is an incredible experience.” -Amro Shihadah CEO & Founder, IDenTV

Diversifying its outreach has allowed the startup to reshape its messaging and evolve it past a one-model-that-fits-all pitch. It learned to better structure its valuation and raise capital without diluting the founders and early-stage investors that believed in IDenTV from the start. 

IDenTV has now raised $1M, giving it the ability to innovate further and rapidly scale in the market as it works towards an acquisition. 

The company has also secured a contract with Bloomberg to establish the largest news network in the Middle East, experiencing over 180% growth in the first few months of launch. 

About IDenTV

IDenTV provides advanced video analytics powered by Al technologies including computer vision, automated speech recognition, and textual semantic classifiers. 

Founder and CEO Amro Shihadah launched the company because he wanted to impact the $400B Al market by tackling one of its most difficult issues: analyzing complex unstructured data sets. 

Through its pioneering technologies, IDenTV provides tools and services across industries so that users can convert unstructured video into actionable data. This enables users to utilize Al in a meaningful way, and weave it into their existing workflows, and drive monetization.

Interested in joining the Newchip accelerator? Apply Here!

Armando Vera Carvajal

Armando Vera Carvajal

Armando Vera Carvajal is a Vice President at Newchip, the largest global online accelerator focused on helping startups raise capital from professional investors. As one of the original product founders and pioneers, Armando is passionate about building new products with high potential for global reach and impact. Prior to Newchip, he was as a Research Manager at the Gerson Lehrman Group where he covered hedge fund clients in New York City involved in long/short, distressed credit, special situations, activist, and global macro investment strategies. Armando studied international relations and corporate communications at the University of Texas at Austin, along with global exchanges at the Nanyang Technological University in Singapore and at l’Institut d'études politiques de Paris (Sciences Po). Born in Mexico City, Armando immigrated to the United States of America when he was four years old and grew up in McAllen, Texas. His interests include painting, mountaineering, writing, film, world travel, kayaking, photography, reading, black coffee, running, and inspiring people to become agents of positive global change.

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