Tony Elumelu’s Heirs Holdings has invested an undisclosed amount in a Silicon Valley based start-up, Wonderloop
Wonderloop is an iPhone app that allows users connect through first-person short-form video. This app, founded by Norwegian entrepreneur Hanna Aase, allows people connect through short 10 to 15 second video profiles, replacing the static images and bios of traditional social networks. It lets you join networks, use hashtags, and add a short bio.
The seed funding is expected to support experimentation and prototype development to accelerate the global adoption of the video platform. A statement by the firm explained that the investment would be disbursed as a convertible loan directly to Wonderloop
Prior to this, Wonderloop had raised $500,000 in seed funding and received $100,000 from Innovation Norway.
“I am excited about Wonderloop’s vision of giving everyone in the world an opportunity to be seen through this dynamic cutting edge video-profile system,” the Chairman of Heirs Holdings and founder of the Tony Elumelu Foundation, Mr Tony Elumelu said.
To start with the app, you have to request for a sign-up. You also need to create a video profile to register.
The app is currently only available on the iPhone. An Android app is under development as is a web browser-based version.
