Zeebo Inc, an digital entertainment startup has raised $ 17 million according to a SEC filing, reports VentureBeat. The report doesn’t name the investors, and only cites the amount of funding that has been raised. Zeebo is in the process of creating interactive education consoles (similar to gaming consoles – a business it was previously in) targeting the emerging markets, including India. MediaNama readers might recall that in January, Zeebo had announced its entery into India with a joint venture with Educomp and interactive content and animation studio Lakshya Digital to form Zeebo India.
As a part of the deal, Educomp and Lakshya Digital were to provide relevant content which would be subsequently be delivered by Zeebo. Hence, India fits well with the company’s strategy to expand into the emerging markets. The system is expected to be priced below Rs 5000, and the company was planning to partner telcos, retailers and schools for the service, which is where a JV with Educomp would come in handy. In order to use Zeebo, one is required to connect to a TV set, and the console will provide Internet connectivity, email, downloadable games along with the ability to connect with friends,family and teachers.
Zeebo’s website, which says that the console will be launched, says that the company will focus “near-term operations and business interests” centered on India, and that Dib Chaudhuri, the co-founder and President of Lakshya Digital, is the Managing Director and CEO of Zeebo Interactive Studios India Pvt Ltd.