15:03 | 16.05.23 | News | 5268

Formula VC invested in Wirestock

Formula VC venture fund invested 200 thousand dollars in Wirestock․

Wirestock helps visual content creators monetize photos, graphics, and videos by providing creators with access to major marketplaces including Getty Images, Shutterstock, Adobe, Pond5, Envato, Freepik, and more.

“Given the huge volumes of the online content, Wirestock has a very important mission of helping creators increase their income. Believing in the potential of the platform, we decided to support and invest in the startup," said Karen Vardanyan, Co-Founder and General Partner of Formula VC.

“We value Formula VC’s alignment with our mission to help creators earn income with their content. We’re excited to have them on board.”, said Co-Founder of Wirestock Mikayel Khachatryan.

Other venture funds, including Decart Ventures, I2BF, Graph Ventures, also participated in Wirestock's investment round.

This is the 14th startup in the portfolio of the venture fund. In total, Formula VC invested 2.3 million dollars in Armenian startups.