Social video diary startup Present app secures US$370K in funding

• App allows users to capture and log their life in the form of videos
• Currently in open public beta testing on iOS, officially launch later this year

SINGAPORE startup Present app announced it has raised S$500,000 (US$370,000) from investors such as James Teo, executive chairman of Eastgate Technology; and Bobby Lim, executive director of Tai Sin Electric, among others.
 
Present app is a Singapore-based startup that provides a social video diary that it said allows users to capture and log their life in the form of videos. It is currently in open public beta testing on iOS, and will be officially launched later this year, the company said.
 
The funding will go towards building a team to enhance existing features, as well as developing new ones, in preparation for Present app’s launch later this year, Present app said in a statement.
 
“It’s essential to me to find a team that understands and shares my passion to fulfill Present app’s vision to bring an effortless and seamless way to crystallise moments that are precious to us – moments that we want to conserve in their purest form,” said cofounder and chief executive officer Peter Draw.
 
“All the R&D (research and development) that we are currently doing will go towards optimising the app towards this end goal,” he added.
 
Draw (pic) said the idea for Present was born from his many travels through his social enterprise, which encouraged children in devastated areas through art.
 
“I realised I had begun to collect a swathe of memories that would happen in these pockets of time that became indeed very special to me, and that I felt compelled to store all these stories into a memory bank,” he said.
 
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