Visinema, an entertainment and IP development company based in Indonesia, is set to build its capacity in animation production, enhance talent acquisition, and drive international expansion after raising $3.25 million in a Series A funding round.
In an announcement, Visinema, founded in 2008 by Angga Dwimas Sasongko, said the funding round was led by Intudo Ventures and backed by existing investors GDP Venture and Ancora Capital.
The company is dedicated to the production and distribution of a wide range of entertainment content for audiences in Indonesia and around the world. It conceptualizes, produces, and distributes content across several formats, including film, television, and digital.
Visinema’s core offerings include Visinema Pictures, which develops theatrical releases, and Visinema Content, producing serial content for brands and digital OTT/SVOD platforms such as Netflix, iFlix, and Goplay.
In addition to its core business, Visinema has developed a comprehensive end-to-end studio ecosystem for film development from conceptualization, production, talent development and recruitment, distribution, and monetization.
With the fresh funding, the company said it would build up competency in animation production by collaborating with and acquiring local animation studios, with its first feature animated film to be released in 2020.
Sasongko, who is also Visinema’s CEO, said the company is excited to have the opportunity to work with Intudo Ventures together with GDP Venture and Ancora Capital as not just its investors, but strategic partners.
“With their support, we will be able to aim higher as we aspire to become not just Indonesia’s leading independent studio, but a major player in the regional market and beyond,” said Sasongko.
The latest funding round followed Visinema’s $2 million seed round of financing from GDP Ventures.
Indonesia’s domestic film industry has experienced rapid growth over the past few years, both in terms of feature-length films and unique content formats, and there continues to be significant demand for high-grade local content, noted Patrik Yip, founding partner at Intudo Ventures.
“With in-house produced Hollywood-caliber content, we believe that Visinema is well-positioned to tell more Indonesian stories to audiences both domestically and around the world,” Yip remarked.