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YuppTV set to close Rs 100-crore plus funding

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MUMBAI: The OTT video space is slated to get hyper-competitive with a slew of broadcaster-led players and even deep-pocketed telcos haring into it. YuppTV, one of the early movers, has now decided to fortify its financial resources in a bid to face the onslaught.

The company – led by Uday Reddy – says it is on the threshold of closing its second round of funding which will see it adding funds running into three digit crore to its kitty. Speaking to Hindu BusinessLine, Reddy said that the company has already pocketed $15 million in its Series A, and was about to close its next round of fund-raising.

Reddy sees the market heading toward consolidation. “We are contemplating acquiring a firm to strengthen our leadership,” Reddy informed BusinessLine. YuppTV has also appointed the Telugu superstar Mahesh Babu as its brand ambassador.

It offers a bouquet of services including 200 TV channels, seven-day catch-up TV, 100-plus TV shows, and 5,000 plus movies as a VOD service. Its subscription packages vary from Rs 5 a day to Rs 30 a week to Rs 99 a month.

YuppTV is taking a major step with making Babu the ambassador. Babu is a big name of Tollywood, and it is sure that the collaboration will work great for the promotion of the channel.

The web portal of YuppTV was established in 2006, offers more than 898 Indian TV Channels in 13 languages that include Kannada, Hindi, Telugu, Malayalam, Bengali, Marathi, Oriya, Gujarati, Punjabi, Sinhalese, Urdu and English. The best part of YuppTV is it allows access through 25 devices to six screens, Internet STBs, connected TVs, PCs, smart phones, smart BluRay players, gaming consoles and tablets.

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