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Updated: PressPlay TV raises funds from SD Ventures, not Sequoia or Vistaar


Update: Anand Sinha, co-founder of PressPlay, has informed Medianama that the company has raised funds only from SD Ventures. Sequoia Capital and Vistaar Investment Advisors did not participate in this round as previously indicated by the company’s press release and our article. The company has also mentioned that this funding is not Series A and did not elucidate on the type.

Previously today: PressPlay TV, a video aggregator, has raised an undisclosed amount of funding from SD Ventures. The company, founded by former Zomato employees Anil Sinha and George Abraham, will use the funds for expanding its WiFi hotspots and improving its product.

Previously, PressPlay raised $2.2 million in seed funding from Sequoia Capital and a clutch of angel investors in April 2015. It also raised $500,000 from unnamed investors in an angel round of funding in August 2014.

PressPlay TV claims to have partnered with more than 150 content creators and curates videos across categories that include movies, TV shows and viral videos across news, fashion and comedy. In April, it appointed Rajesh Vashista as its chief technology officer.

Wifi hotspots

The company installs its own free Wi-Fi hotspots in trains, cabs and buses, letting users to connect to the hotspot and download or stream the videos on PressPlay’s mobile application. It claims to have 3000 such wifi hotspots all across the country. It is somewhat similar to Fropcorn’s service at the Hyderabad airport, although users will have to pay to download movies. PressPlay also started providing video-on-demand services on two trains in February this year, with plans to extend this service to 30 trains.

Licensing agreements

The New Delhi-based company said it is entering into licensing agreements with media and production houses as well as individual content developers to expand its catalogue. It already has licensed content from companies such as Lehren TV, Sun Network, Sony India and Fever 104.

Related developments

– NexGTv partnered with One Network Entertainment in June to launch a separate app for comedy shows. The app has original content as well as those created by others.
– In May, Hotstar added 4,000 hours of Malayalam language content including movies and popular TV shows across genres. That same month, NexGTv launched an Android and an iOS app that offered video content for children.
– Spuul partnered with Shemaroo in April to offer movies from Shemaroo such as Mujhse Shaadi Karogi, The Dirty Picture, Sarfarosh, Black, Kaalia, Namak Halal, Shiva, Majboor, Amar Akbar Anthony.

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