The Munich-based startup Picter has received its second seed funding from an international consortium of investors. The company has secured a Alumni team of Media Lab Bayern receive a six-figure investment sum.
The team around founders Claudio Ricci, Simon Karlstetter, Matthias Lohscheidt, Leon Kirchlechner, and Richard Stromer is building Picter, a smart access and asset management solution for image data. This solution aims to eliminate the need to send image data. Photographers upload their images to Picter once, and from there they can assign any management permissions for the high-resolution data, which is securely stored online in the cloud. The recipient receives the correct resolution for the respective intended use.
Picter ventures into a new financing model
The team successfully completed the Media Lab Bayern Media Startup Fellowship program from January to June 2017. Picter was also part of the first Partner Fellowship, which allows media companies to provide special support to individual fellows. Picter received additional support from Red Bull Media House.
The startup is now entering new territory not only in terms of technology, but also in terms of financing. Picter received the financing in the high six-figure sum based on a SAFE, “Simple Agreement for Future Equity”, a form of convertible loan that has so far been common primarily in the United States. The SAFE financing instrument, developed at the famous Y Combinator in Silicon Valley, simplifies seed investment and is now well established in the United States. The Munich-based startup is thus already targeting American investors.
Following the completion of the financing round, the startup, which now has around 16 employees, has big plans. Next steps include the integration of smart and secure image licensing based on blockchain technology and increasing the number of users and customers. The team is also currently working on completing a scalable application for professional image users and image producers.
