Peak XV-backed AI-native entertainment co. Dashverse seeks $40-M

Bengaluru- and San Francisco-based Dashverse is in the early stages of seeking USD 30-40 million in funding. The company, backed by Peak XV Partners, is transitioning its operations to focus on selling AI-powered video production software to entertainment firms. The firm has also discontinued its consumer microdrama platform, DashReels.The company was founded to operate in the consumer media space and previously managed its own application to acquire and monetise viewers. The firm now targets overseas studios, content creators, and entertainment platforms as its primary clients. Its AI software and services business has reportedly reached an annualised revenue run rate of approximately USD 10 million.The firm plans to use the new capital to scale its business-to-business software platform, Frameo AI.