Atlanta-based YuppTV, an over-the-top (OTT) content player that distributes TV channels through the internet, is planning to raise $50 million as part of its series B fund raising plans. The company was started in 2006 by an Indian-born Uday Nandan Reddy and has so far raised $11 million.
The company, which mostly serves the Indian diaspora in the US, launched its Indian operations on Wednesday.
Claimed to be the world’s largest OTT provider for Indian content with 200-odd channels in 12 languages, YuppTV offers catch-up TV technology for the first time in India whereby viewers can watch TV content from past seven days and never miss their favourite shows. The service allows users to watch their favourite channel or a movie from a catalogue of more than 200 live TV channels and 8,000 movies across a dozen Indian languages on a single subscription.
Announcing the Indian operations, Uday Reddy, founder & CEO, YuppTV, says that the company plans to redefine TV viewing experience. “We are looking at offering newer services through the OTT technology. For this expansion, we are planning to raise $50 million in the next three to four months,” he said. The company spends mostly in acquiring content and customers and earns from online subscriptions.
YuppTV service is accessible on multiple internet-enabled devices – smart TVs, smart phones, tablets and also on the web.