​Vietnamese award-winning livestream startup raises $1.5 mln

The company acquired the funds from Surge, a startup accelerator program of U.S.-based Sequoia Capital.

Uiza plans to use the funds to build products to serve the multi-billion-dollar market of video streaming software. 

The startup provides a platform for video delivery, especially in developing countries where infrastructure is extremely fragmented, by offering hardware-agnostic software coupled with a distributed edge delivery network to help clients broadcast video content globally.

Last October, Uiza won the grand tech prize in Asia’s Jakarta Arena pitch battle. Last August, it secured an undisclosed pre-seed funding from homegrown venture capital firm ESP Capital and Japanese IT Corporation Framgia Inc.

Video streaming and live streaming will account for 80 percent and 17 percent of all Internet traffic by 2022, according to recent Visual Networking Index research conducted by Cisco.

Last year, investment in major startups in Vietnam tripled to $889 million from 2017, according to Topica Founder Institute (TFI).