Apalya raises $7.5M led by IUVP
Apalya Technologies, a leader in interactive, on demand Mobile TV services in India, has raised USD 7.5 million in Series B funding. Apalya plans to use the funds to broaden its portfolio of services and technology platform to leverage the vast mobile TV opportunity being presented by the upcoming large scale rollout of 3G services in India.
The investment in Apalya was led by Bangalore based IndoUS Venture Partners (IUVP), a leading venture capital firm. IUVP is a first time investor in Apalya Technologies. With this investment Ms Vani Kola will take a board seat in Apalya Technologies.
“With its unique Mobile TV Technology, Apalya is already making waves in the mobile VAS industry in India, the fastest growing mobile market across the globe. The widespread launch of 3G services in India has the potential to make the mobile screen a dominant live streaming based infotainment and advertising platform with Apalya as the central player,” says Ms Vani Kola, Managing Director, IndoUS Venture Partners.
Existing investors IDG and Qualcomm also participated in the Series B financing thus affirming their faith in long term exponential growth of Apalya. Apalya’s Mobile TV viewership has grown to 4 Million Subscribers after receiving the first round of investment.
During the same period, Apalya partnered with more than 100 television channels including Discovery, Disney and Sony. Apalya also tied up with Reliance communications and Tata Teleservices for delivering mobile TV solutions for their 3G services launch.
-Hitesh, vcBytes.com
