IPTV start up raises $500,000 in equity financing

MUMBAI: Internet protocol television (IPTV) service provider, Internet Broadcasting Corp., has raised $500,000 in Series A equity financing as part of its $2 million offering.

The Series A funding was led by Washington DC area angel investors and the company‘s existing investor Silver Stone Capital came in as a co-investor.

This financing will help fund the roll out of Vibble TV, the company‘s initial offering that focuses on the three million plus South Asians in the United States.

Vibble TV‘s offering already includes leading Indian television content provider Zee TV and 60 other channels. In addition, Vibble TV offers to its subscribers over 500 Bollywood movies and the entire library of Amar Chitra Katha animated Indian fables through video on demand. The company is continuing to add compelling content to its lineup and plans on launching the service in May.

“We are excited to have the support of our new investors as we bring television viewing to the 21st century. Our goal is to create the world‘s leading IPTV company and our investors share our vision and passion. Vibble TV also plans to roll out service to other ethnic markets later in the year,” said IBC founder and CEO Suresh Kadagala.