Aarhus-based startup Wedio has collected €1.25 million in a seed round from Founderment Ventures and Denmark`s Export and Investment Fund, a merger between EKF Denmark’s Export Credit Agency, Vækstfonden and Denmark’s Green Investment Fund. The startup also received approximately €150K through a crowdfunding campaign in Wefunder. The platform is a European equipment rental community for Filmmakers and Photographers, like the Airbnb of professional film gear. The total funding from the seed round will pave the way for the growth and expansion plans of the company.
Wedio was established in 2018 with a mission to preserve exceptional stories. The company offers a cost-effective solution for renting film equipment on a daily, weekly, or monthly basis, with global coverage that safeguards the film and photo equipment throughout the customer’s rental or subscription period with Wedio. By providing access to the most up-to-date professional gear, the startup aims to develop sustainable and budget-friendly options for filmmakers and photographers. Given that technology is constantly evolving and equipment can quickly become outdated, Wedio’s services can help filmmakers keep up with the latest trends and advancements in the industry.
Daniel Sand, co-founder and CEO of Wedio, explains: “Over the past few years, more and more of our members have actively asked how they could become a closer part of Wedio and our journey. At the same time, from the beginning, we have tried to position ourselves as a creator community rather than a tech company. By allowing our members to become co-owners of Wedio, we believe that we can build an even better product in close collaboration with our members and at the same time build loyalty and ambassadors in the industry.”
“There is a huge potential in the sharing economy concept, and our market has been global from day one, which is why we have focused on top-line growth until now. We have now built a solid foundation that enables us to expand into more countries with the new capital and at the same time shift our focus towards our bottom line. The goal is to become profitable within the next 12 months,” explains Daniel.
Johan Bitsch Nielsen from VF Venture explains: “The creator economy has experienced massive growth in recent years, and Wedio has demonstrated how to be an important part of everyday life as a filmmaker or photographer. Not only do the Wedio team help creators access camera equipment, they also help creators access the needed network and knowledge to succeed and craft better stories. In my opinion, Wedio is a great example of how future marketplaces must turn into communities to differentiate from competitors.”
