AI Entertainment Startup Dashverse Bags $13 Mn From Peak XV Partners, Others

AI entertainment startup Dashverse has raised $13 Mn (around INR 108.3 Cr) in a Series A funding round led by Peak XV Partners, with participation from existing investors Z47 and Stellaris Venture Partners.

The funds will be used to strengthen Dashverse’s AI technology, drive product innovation and accelerate global creator adoption.

Founded in 2023 by Sanidhya Narain, Lalith Gudipati and Soumyadeep Mukherjee, Dashverse started with Dashtoon, an AI-powered digital comics platform, before expanding into AI-generated video content with Frameo.AI.

DashReels now delivers these microdramas to a global audience. Collectively, the platforms claim over 20 Mn users worldwide.

Last year, the startup raised $5 Mn in a seed funding round from Z47 and Stellaris Venture Partners.

The funding follows the startup’s newly launched mobile-first microdrama app DashReels, which Dashverse said crossed 5 Mn downloads within a month of launch.

Narain told Inc42 that the newly raised capital will be deployed in enhancing Frameo.AI and the microdrama offering.

A number of startups like Reelies, Kuku, and ReelSaga are building a content library focused on microdramas. Meanwhile, major studios, production houses, and OTT platforms are also testing the waters with this format.

Last month, another microdrama startup, Chai Biske, raised 5 Mn in seed funding from InfoEdge Ventures, General Catalystand other angel investors.

Amazon-owned MX Player is offering short films and series under its MX Fatafat banner, and JioHotstar is exploring micro-style versions of its creator-led shows through Sparks.

Last month, Zee Entertainment also announced an investment in content startup Bullet to enter the 60-second content space.

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