Portuguese startup sqill announced the closing of a €2 million seed investment round led by GED Ventures. With this funding, the company strategically aims to consolidate its presence in the US by opening an office in Austin, Texas, and expanding its team. Recruitment for various positions in Portugal and the United States is already underway, marking the beginning of a new chapter in Sqill’s growth story.
Available for iOS and Android, Sqill has developed an “all-in-one” AI-based content creation platform, designed to enhance brand storytelling and social media presence.
This tool enables advanced photo and video creation and editing, and real-time collaboration among social media teams, managing the entire production and publishing process. The key feature, an AI-powered video editor simplifies, creates, and shares custom brand content within minutes, promising a new era of social media management.
Afonso Coimbra, Co-founder & CEO of Sqill,said: “This investment is a validation of our team’s work and the incredible opportunity ahead of us. We are thrilled to take this step forward and, above all, to be better equipped to address our clients’ challenges. We are excited to collaborate with GED Ventures for their scale and international network, shared ambition to conquer the US market, appetite for innovation, and track record of investing at the intersection of technology and marketing. This funding allows us to grow our technology team – with a focus on artificial intelligence – and make a strong entry into the US market where we have just established our new office, specifically in Austin, TX.”
Francisco Lino Marques, Partner and member of the Board of Directors of GED Ventures Portugal, added: “The solution developed by Sqill is very compelling as it sits at the intersection of three high-potential business areas: scalable generative AI, content generation in sports, retail, and corporate environments, and influencer networks on social media with large and growing consumer bases. More importantly Sqill addresses the challenge of real-time high-quality content production for social media teams. This investment will enable the company to expand into different verticals and new markets.”
Prior to this funding round, Sqill had already raised over €300,000 from Innventures (through Innowave), Demium, and more than ten business angels including Tiago Gonçalves and Miguel Patrício from Innventures (Innowave), Pedro Silva Nunes from Audax Group, Armando Ribeiro Ferreira from EY, Domingos Cruz from CCA Law Firm, João Correia Pereira from Judas, José Diogo Quintela from A Padaria Portuguesa, Jordi Pujol from Objective, Valentina Hristova from Salesforce, Andrew Riley from Nomi Health, João Cruz from Linguae, and John Bagagem from Empower, among others.
Currently, the startup incubates at Startup Lisboa and Instituto Pedro Nunes. Sqill aims to continue supporting brands succeed in the complex world of digital content, targeting over 30 million social media teams worldwide. In recent months, the Sqill team has been working closely with its initial clients, valuing their feedback to optimize the product and meet the pressing needs of social media teams. This collaborative approach is a testament to Sqill’s commitment to customer satisfaction.
Currently, Sqill supports dozens of clients in Portugal, Spain, Brazil, and the USA, including leading brands such as FC Porto, Worten, and L’Oréal. In the coming months, the company plans to forge new partnerships with sports organizations, such as federations, leagues, and clubs, and increase its presence in the Retail and Corporate sectors.
Read the orginal article: https://www.eu-startups.com/2024/07/lisbon-based-sqill-gets-e2-million-to-streamline-the-creative-workflow-of-social-media-teams/
