French startup Quortex, developer of an AI-based video streaming service, has closed a €2.5 million seed round led by Elaia and Go Capital, with support from Unexo and some business angels. The funding will help expand the company’s “Just In Time” platform, a cloud-based combination of services that automatically adjust to network events and audience capacity needs.
“Rather than processing content without knowing if someone will watch it and therefore consuming resources inefficiently, our solution is close to customer needs, offering massive scaling if necessary, but also reducing the carbon footprint to a bare minimum when needed,” says CTO Jérôme Viéron.
In a press release, the deep tech company says the 2024 Olympics in Paris “will be the first event where the streaming audience is expected to be higher than traditional broadcasting.” But as the last few months of coronavirus lockdowns have laid bare, current network systems can’t operate well under high demand, with many subscribed streamers experiencing low bitrate.
“Streaming is often seen as a threat for the internet as it uses up to 80 percent of its worldwide capacity,” says Marc Baillavoine, Quortex CEO. “It should be seen as a unique opportunity and the streaming technical constraints must be exploited: our patented technology makes it possible to suit subscribers’ personal preferences, both in terms of video quality and in content, and to create as many television channels as there are subscribers.”
Anne-Sophie Carrese, partner at Elaia, commented: “We were convinced by this deep tech, serial entrepreneur team that developed a highly innovative solution with an impressive demonstration: live streaming at scale with an intuitive ergonomy. The addressable market is huge with the mass increase for video content, on-demand, even for Live. Finally, their cloud-native solution, built to run on the edge (closer to the end user) perfectly fits with the current cloud trends.”