European business takes total raised to $11m ahead of US launch & strategic review
ANTWERP, Belgium, Oct. 31, 2024 /PRNewswire/ — Leading 3D animation software company Swoove Studios has closed a $7.5 million seed funding round led by European angel investors.
The round brings the total raised to $11m since its launch in 2020. Subsequently, it has started a strategic review as it continues to scale across Europe and launched this month in the US.
The Belgium-based business is the developer of Swoove, a real-time 3D animation creation app. Its proprietary platform, powered by AI, enables users to create unique 3D animation videos without any prior experience. Swoove empowers its users to easily bring their stories to life, using its intuitive platform to create stunning 3D animations. The app offers a diverse set of tools and features that cater to all levels of expertise, from beginners to seasoned creators.
The platform’s unique blend of accessibility and sophistication has resonated strongly with users, leading to increased engagement and content creation. It has become the go-to app for user-generated animated content, used by many thousands of creators in over 100 countries.
To further solidify Swoove Studios position as a leader in the digital storytelling space, it launched the app this month in the USA, accompanied by a series of exclusive features and content, including the Swoove marketplace. In this first-of-its-kind community, user-generated digital assets, such as clothes, can be bought and sold.
Rudy Verbeeck, CEO and Co-founder of Swoove Studios, said:
“Swoove is the future of 3D animated storytelling. We have created a unique platform and become the go-to for 3D animation globally.
We are thrilled to announce the completion of our latest funding round, and now plan to implement exciting updates to give users more of what they are asking for, including building opportunities for monetization and allowing further integration with other services for new brand and platform partnerships.
As part of this incredible demand and opportunity, we want to work with a like-minded partner to help us achieve our potential and scale further.”
The Strategic Review includes Swoove Studios reviewing all its options, such as a growth investment and an entire business sale. Exploratory conversations have already commenced with several potential domestic and international partners. The Strategic Review is handled exclusively by Lazarus Consulting, the boutique M&A advisory firm.
ABOUT SWOOVE STUDIOS
Launched in 2020 and available via iOS and Android (iOS App Download Link and Android App Download Link), Swoove Studios is an entertainment software company that has developed the Swoove app, a real-time 3D-animation creation app using proprietary technology. Please see www.swoove.com for more information.
ABOUT LAZARUS CONSULTING
Lazarus Consulting is an award-winning boutique advisory firm offering Business Development, Capital Raising, Corporate Development, and M&A services to clients primarily in the tech, media, and retail sectors. The firm is the exclusive corporate finance advisor to Swoove Studios. Please see www.lazarusconsulting.net for more information.
SOURCE Swoove Studios
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