Movi announced raising NOK 18 million from the Kuwait company Sadita.

Movi, an Oslo, Norway-based developer of a video-based SAAS technology, announced that it managed to secure funding of NOK 18 million ($2M).

The money was provided by the Kuwait-based holding Sadita.

Movi, founded in 2017 by Anders Lassen, Eike Rösner, Espen Bjarnø, Lars-Erik Ravn and Morten Fornes, developed the Movi Player SDK, a software tool that acts as a layer on top of native mobile video players and providing interactive features. Movi Tech technology can be integrated into many types of video players, with business cases including e-commerce companies, such as  the American mobile brand ZmBIZI and Pakistan-based Salam Planet, a Danish company that operates a social network for urban youth in Asia.