Mobile TV company, Apalya Technologies, Raises Funding
Hyderabad based mobile TV company, Apalya Technologies Pvt. Ltd, has raised $500,000 (Rs 2 crore) investment from Mumbai Angels, a network of angel investors.
Founded in December 2005 by by Vamshi Reddy and Shiva Bayyapunedi, Apalya aggregates premium entertainment content from many different content providers, and then optimises the content to be suitable for small screen or mobile viewing. Currently, they claim to have 30,000 paid subscribers across the country.
On the delivery end, Apalya has tied up with most of the telecom operators in the country including Idea Cellular, BSNL, Vodafone, etc., while for the content end, it has also tied up with 40 television channels, which includes most of the news channels and regional channels.
The funds would be used to expand the marketing team and infrastructure. [Via]
Going forward, as 3G starts, expect to see a lot more fundings in this arena.
Filed under: Deal Tracker