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Hungama secures $25 million from Xiaomi & other investors

Digital entertainment company Hungama has raised $25 million from smartphone maker Xiaomi and existing investors Intel Capital, Bessemer Venture Partners and Rakesh Jhunjhunwala. Hungama will use the funding for expanding its content library and improving its products. The company mentions that it will soon add 8000 hours of TV content on Hungama Play, a platform it had launched in July last year. As of now, it claims to feature over 6,500 movies from Bollywood, Hollywood and in regional Indian languages like Telugu, Tamil, Marathi, Oriya, Bhojpuri, Gujarati, Kannada, Bengali and Punjabi (overall 12 languages). It’s not clear if with this investment, Hungama and Xiaomi will enter into a content distribution agreement as well. This would benefit both companies; Hungama will get to introduce its app to new Xiaomi users, while the smartphone manufacturer will be able to add value to…

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