July 1, 2016: A Delhi-based video content discovery platform, PressPlay TV has raised an undisclosed amount in Series A round of funding from SD ventures . The investment will help in accelerating development of content discovery and distribution on its platform. It will also fuel further expansion of its hotspot services.
“PressPlay TV has experienced tremendous growth over the last year and is establishing itself as a leading platform for content discovery and distribution in India. We’re excited to partner with them and support them in their journey”, said Ivan Pakhorukov Investment Director at SD Ventures.
“Over the last 2 years, we have been working tirelessly to get the two industries – Entertainment & Distribution – married together in a meaningful way. I am very happy & excited to welcome on board our new investors. This investment will support our continued growth, as well as the ongoing development of new features and products, keeping us at the forefront of innovation.” said Anand Sinha, Co-founder at PressPlay TV
Incepted in 2013, PressPlayTV was founded by ex-Zomato employees, Anand Sinha and George Abraham. It aims to make high quality, curated and best-in-class video content, which is accessible to consumers, anytime and anywhere, across platform and devices. It offers free video content ‘on and off – line’ using a hybrid delivery model.
The app comes loaded with Movies, TV shows, trending/viral internet videos across news, fashion, comedy, and high quality curated content, spanning across 150+ content partners & channels.
The current business model of the company is based on advertising. Its USP – viewer captivity and engagement offers very strong value for advertising other brands (other app companies, brands etc.) The app is free for users who spend an average time of 45 minutes on PressPlay TV, said Anand. By this fiscal year, the company intends to increase the number of content partners to 500 and users upto 10 million.
“Over the last 2 years, we have been working tirelessly to get the two industries – Entertainment & Distribution – married together in a meaningful way. This investment will support our continued growth, as well as the ongoing development of new features and products, keeping us at the forefront of innovation.” said Anand.
The PressPlay TV content bouquet have also added licensed content from some of the top companies in India viz. Lehren TV, Sun Network, Sony India, Fever104 to name a few.
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