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Cloud based television services company Magine gets $19mn funding
BENGALURU: Magine, a Swedish cloud-based television operator, announced today that it has obtained an additional round of funding to the extent of $19mn that will enable it to expand the supply of its recently launched service of television content online (OTT).
Michael Werner, Matthias Hjelmstedt, Erik Wikstrom, Xavier Ritort and Hakan Tranvik, founders of Magine, obtained the funds through an agreement with a group of Swedish and international investors.
The funding will help Magine to accelerate significantly the time for the implementation of the platform at the international level. Within a few a few months the service will expand from Sweden and will be launched soon in its key television markets of Germany and Spain. It will be available for users across at least five other markets before the end of the year says Magine.
Magine president Michael Werner says “Magine is not just another television platform, but a whole new way to access and enjoy content. It is a service that requires a subscription and has been designed to make people return to following television programs. Because of this, broadcasters and content providers are very likely to use it. Magine helps them to create new forms of monetization while respecting the system of existing copyrights. Our investors realized immediately the extraordinary potential for discovery of content and social interactions available to users, and the service’s ability to generate new revenue streams.”
In Sweden, Magine hosts some of the most famous brands and channels in the world. These includr Discovery, CNN International, BBC, Eurosport, National Geographic, Nickelodeon and Cartoon Network, in addition to the national broadcasters SVT and TV4. The company has also initiated talks with numerous media and international groups engaged in the entertainment industry, and expect further announcements in this regard later this month.
Last April, Magine was presented to the international television and community members for content production during MIPTV (International market of television), one of the major international events in Europe dedicated to the entertainment industry. The presentation of the service has been hailed as the highlight of the event by commentators, journalists and leading figures in the industry.
Magine is the new television. It is not a new device to follow television programs, but a service that offers absolute freedom to follow live TV, pause or resume viewing at a later time for all channels and all devices at any time, in compliance with the existing copyright. It offers high speed, excellent quality and images protected by DRM (Digital Rights Management, Digital Rights Management) through any type of Internet connection available. It is currently available on Apple devices and the Samsung smart TVs. Soon it will be possible to use the service on other television platforms and tablets with Android operating system.
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Inshorts Group chief Deepit Purkayastha joins IAB video council for Southeast Asia and India
The co-founder and chief executive of the short-form content platform has been inducted into the IAB SEA+India Video Council, giving India a stronger voice in shaping digital video frameworks
NOIDA: India has long been the world’s most chaotic, multilingual and mobile-first digital market. Now, one of its most prominent short-video executives is getting a seat at the table where the rules are written.
Deepit Purkayastha, co-founder and chief executive of Inshorts Group, has been selected as a member of the IAB SEA+India Video Council for 2026. Run by the Interactive Advertising Bureau, the council brings together senior leaders from Southeast Asia and India to shape standards, best practices and measurement frameworks for the fast-evolving video and digital advertising ecosystem.
The timing is pointed. According to the IAMAI-Kantar Internet in India Report 2025, over 588 million Indians are now consuming short-video content, with growth increasingly driven by rural and non-metro audiences. India’s active internet user base has crossed 950 million, with 57 per cent of users now coming from rural markets. Yet the frameworks that govern how video consumption is measured and monetised were largely designed for single-language, Western markets and have struggled to keep pace with the scale, diversity and complexity of India’s digital landscape.
Purkayastha is no stranger to these debates. He already serves on the AI Council at Marketing and Media Alliance India and as co-chair of the Digital Entertainment Committee at the Internet and Mobile Association of India. His induction into the IAB SEA+India Video Council extends that influence into the global video standards arena.
Inshorts Group sits squarely at the intersection of these forces. Its flagship product, Inshorts, India’s highest-rated short news app, reaches 12 million active users with 60-word news summaries. Its sister platform, Public App, reaches 80 million monthly active users across more than 700 districts and 12 languages, serving communities that most global platforms barely register.
Purkayastha said the opportunity was about building something more representative. “India today sits at the centre of the global video ecosystem, but the frameworks that define how value is created and measured have not always kept pace with the realities of our market,” he said. “Being part of the IAB SEA+India Video Council is an opportunity to contribute to a more representative and future-ready approach, one that accounts for diversity in language, context, and user intent.”
As a council member, Purkayastha will contribute to shaping regional standards across video advertising, measurement and platform governance, with a focus on frameworks that are native to India’s multilingual, mobile-first ecosystem rather than imported from global benchmarks designed elsewhere.
For years, India has been content to play by rules written for other markets. Purkayastha’s induction is a signal that it is done waiting to be consulted and ready to start writing them.
