Splashlight Studio has received a startup investment of $1 million, raised as a significant vote of confidence, highlighting the progress achieved since its launch in 2020.
Meanwhile, the investment will fuel the company’s entry into KSA, a huge and exciting market after UAE.
Kartik Jobanputra, Founder and CEO of Splashlight Studios LLC, said: “The e-commerce revenue in the UAE alone is projected to touch USD 12 Billion by 2025. Fashion as a segment sits in the middle of this growth. As more and more new and legacy brands go online in the MENA region, Splashlight Studios has a huge untapped market to expand into.”
Splashlight Studios, founded in 2020, focuses on the convergence between fashion and technology. Its goal is to empower brands as they make their initial forays into e-commerce and give competitive solutions to existing brands wishing to expand their reach.
However, splashlight helps companies bridge the gap between creativity and technology by providing end-to-end services such as product shoots, marketing shoots, English and Arabic content, videos, and annual content calendars.
In addition, It employs a staff of professional photographers, editors, stylists, make-up artists, producers, and technologists. The firm comprises 6300 square feet of fashion and product studios.
Modern amenities such as a cosmetics room, equipment room, wardrobe stockroom, and photoshoot floor are available at the studios.
It is currently trying to grow into aggregation to decrease the time to market for both new and established businesses looking to enter the digital space.
Eagle Ventures, a Dubai-based fund run by Adit Mehta and Hitesh Ajmera, has given Splashlight Studios $1 million in seed capital.
“Demand for e-commerce offerings has increased significantly around the world as a result of COVID,particularly in the last several months. Splashlight Studios is well-positioned to meet demand originating in the Middle East as the region’s e-commerce business expands. We believe in the potential of the business and our intentions to expand internationally, “Backbay Advisors Partner Ashok Mittal remarked.
Splashlight Studios’ financial advisor on the deal was Backbay Advisors.
According to Jobanputra, the content creator company plans to extend its operations and penetrate the Saudi Arabian market with its new startup money.
Splashlight Studios have worked with more than 100 enterprises and firms in the UAE since its start, including That Concept, Sun & Sand Sports, Tamanna.com, and Styli.
The content production company has also processed more than 35 million pictures for its e-commerce clients.
Splashlight Studios’ most recent investment round, a seed round, ended on November 24, 2021.
“We’ve been following the progress of the functioning splashlight from its start, and we believe they’re in a unique position to serve e-commerce clients at scale. The studios are cutting-edge, and the professionals in charge of them can compete with most European studios. We wish them the best of luck as they grow in the region “, according to creative Zone CEO Lorenzo Jooris.
Manufacturing, trading, retail, service, hospitality, tourism, automobiles, healthcare, restaurants, entertainment centres, malls, and retail outlets have contributed to the region’s growth.
Last Updated on August 23, 2022 by Safiya K
