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SeventyMM Gets $11.4 Million In Series C Round Led By NEA-IndoUS Ventures; Change Of Business Model?

SeventyMM, the online movie rental business, has made another pit-stop, and will chug along for a few more laps. Refueling the business with close to Rs. 50 crores ($11.4 Million) are NEA-Indo US Ventures, and VCs from earlier rounds - Matrix Partners India, Draper Fisher Jurvetson and ePlanet Ventures. Vani Kola of NEA-Indo US Ventures has joined the board. [via Television Point] In the movie rentals space, SeventyMM competes with BIGFlix from Reliance ADA Group and Showtime from Nimbus. In the world cinema downloads space, they're competing with Gaurav Dhillons Jaman. SeventyMM has changed tracks: they were probably being lapped again and again by the movie pirates, and the web 1.0 model has been replaced a one which has a bit of both - user interactivity and movie rentals. Some of you may remember that the Web 2.0 model was…

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