Hyderabad-based Apalya Technologies or MiMobiTV, has raised $3 million in its second round of funding, from venture capitalists IDG Ventures India and Qualcomm Ventures. A year ago, Apalya received Rs 20 million from Mumbai Angels and has since launched mobile TV for a slew of telcos including Tata Indicom, Aircel (in Tamil Nadu only), Idea Cellular and Vodafone.
With the funds, the Mobile TV company will prepare for 3G, which is expected to be deployed next year with auctions being postponed again, this time to allow foreign telcos to participate and keeping in mind that the Christmas holidays are nearing. Apalya is already powering mobile TV for 3G networks of BSNL and MTNL (in Delhi).
Apalya will introduce customised entertainment channels, premium video programming and exclusive to the mobile content for 3G networks. Besides product development it will also build up on infrastructure and scale up its workforce in the country – it employs 50 personnel currently. “We were a pretty small team; we want to bring expertise so that we are ready for the 3G operations,” Vamshi Reddy, CEO, Apalya Technologies, told Medianama. And was the funding essentially for survival or growth of Apalya? The answer, along with details on the current market size and competition, will appear in an interview tomorrow so dont forget to check Medianama.
IDG Ventures has invested in portal Myntra, online ad network Ozone Media and gaming firm Kreeda and Qualcomm Ventures in mobile payment firm Obopay, mapping company MapmyIndia, voice SMS provider Kirusa in India. It also has a stake in another mobile TV company, US-based GoTV Networks.
T C Meenakshisundaram and Ranjith Menon of IDG Ventures India (profiles here) will join the board of directors at Apalya while Karthee Madasamy of Qualcomm Ventures has joined as a board observer and is in a similar role for Kirusa and Tessolve.
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