Dynamite Labs has secured the seed funding round worth $1.6 Million led by Observatory Capital with contributions from other investors which include the former CTO of Groupon & one of the co-founders of Softbank Technology Ventures.
Dynamite Labs has been working on a video app which allows users to shoot, edit and share the videos. There are plenty of face masks as well as audio filters allowing users to create a unique story to share with public, friends or anonymous people. The maximum length of the video can go up to 42 seconds.
Dynamite has been around for a while now, however, it was only in private beta stage. With the latest round of funding which seems enough to launch a public beta to get the traction along with the user feedback, Dynamite has launched the public beta on Google Playstore and is available to download immediately.
“Our mission is for Dynamite to be the place where you can share your true self, instead of the overly-crafted, perfect, happy version you share on social media today.” said Joshua Dern, CEO and co-founder at Dynamite Labs, Inc. “Whether you have something funny to share, or a meaningful story about your experience having been bullied, a victim of racism, or otherwise disenfranchised, Dynamite was created to support a new generation of voices and storytellers.”
Another aspect of the app was to target the pro-social movements. Dynamite is already working with some community based organizations which enables them to raise their voice in a unique manner.
“Millennials are most interested in watching and connecting via mobile video,” said Jonathan Perl, Managing Member of Observatory Capital. “The team behind Dynamite has successfully created video platforms used by over 100 million people, they have the experience and integrity to develop this platform into a cultural juggernaut.”