Action sports video editing startup Antix has secured £1.2m in new funding from Silicon Beach, California-based TRACE Live Networks.
London-based Antix, is a smartphone application which enables outdoor sports enthusiasts to have their action camera footage instantly auto-edited into highlight reels.
Antix CEO, Adam Theobald, said: “We’re incredibly excited, not only to have secured a great investment, but also by the opportunity to collaborate and scale our business with the TRACE organization.
“Having this investment come from the US, I think, demonstrates the current strength of the UK startup scene and, for Antix, having access to talent and business development opportunities on both sides of the Atlantic is a major advantage and differentiator.”
TRACE co-founder Cameron Chell, added: “The content creation space is exceptionally hot right now and the team and the technology that’s been developed at Antix are second to none.
“From the due diligence our team did when looking at strategic investment opportunities, the UK undoubtedly represents one of the major global hotbeds for tech innovation.”
As part of the agreement, TRACE Senior Management will fill two Antix Board positions and consult closely on the company’s strategic direction and management processes. TRACE will also retain an exclusive option to fully acquire Antix.
TRACE and Antix will immediately begin close collaboration on several areas of technical development and integration and the two companies will pursue various combined business development opportunities, both across the EU and North America, and share some operational resources.