Arré, UDigital’s digital media brand, has raised an undisclosed amount in funding from Enam Holdings for a ‘significant minority stake’, reports Mint. Arré plans to use the funding for developing content and scale the business and product offering. With this funding, Ronnie Screwvala has exited the company. Screwvala was part of the founding team at Arré, along with B Saikumar and Ajay Chacko, who have acquired the residual stake held by Unilazer Ventures and Screwvala. According to Afaqs, Saikumar brought on Sanjay Ray Chaudhuri as a co-founder in Arré in February and also took a controlling interest in the company. At that time, Screwvala would continue as an investor with a significant minority stake. Apalya Tech acquisition In December last year, Arré acquired Apalya Technologies via a 100% buyout of shares from all of Apalya’s investors including IDG, Cisco, Kalaari, Mumbai Angels and the Founders among others. Post acquisition, founders of Apalya, CEO Vamshi Reddy and CTO Shiva Bayyapunedi, joined Arré. With the acquisition Arré would use Apalya’s technology and content to distribute over its platform. Apalya provides movies, live TV and movies on demand over iOS and Android apps. It has partnerships with Warner Brothers, India Today Group, Viacom, Star, Sun TV and Times Television Network for content, and claims to be in the process of signing up more entertainment houses. Indian Express partnership In August 2015, the Indian Express entered into a strategic partnership with Arré to jointly produce investigative documentaries. The documentaries would be distributed to digital and…
