Internet based TV streaming service provider YuppTV, which launched operations in India with 200-plus channels in 12 languages, is looking to raise about $50 million in a series-B funding from private equity players in about three to four months, its founder and chief executive officer Uday Reddy, has said.
The funds would be used to expand its India business, mainly customer and content acquisitions, he said.
The company had so far raised about $11 million since 2007. Serial entrepreneur Sashi Reddi has invested in it in April 2014.
The over-the-top provider for Indian content offers live TV experience as well as catch-up TV technology with which viewers can watch TV content from past seven days. Real time recommendations are also provided to viewers on most trending live TV channels using analytics.
As part of its video-on-demand service, YuppTV has over 25,000 hours of video content in its catalogue and 2,500 hours more was being added every day, he said, adding that plans are on to build a curated video marketplace as a lot of content was generated now, but there are limitations in terms of number of channels on satellite broadcast and cable.
YuppTV is available in 150 countries. With the internet user base increasing, it has the potential to reach more than 200 million smartphone users in India, Reddy said.
It had earlier launched its services in Trinidad and Tobago by signing a deal with the Telecommunications Services of Trinidad and Tobago, of which cricket legend Brian Lara is the brand ambassador. Lara too was present on the occasion.
