Mumbai-based Qyuki, a digital broadcast network, backed by music composer A R Rahman and Film-maker/producer Shekhar Kapur and Samir Bangara, is raising around $10 million (₹60 crore) from a Silicon Valley-based venture capital fund focused around media.

Qyuki will be closing the deal in three to four weeks from now. "The startup has already signed a term-sheet and is in an advanced stage to raise funds that will be used to expand its operations, increase headcount, create more formats and content and rope in more individual artists on its platform." said Samir Bangara, Co-founder and Managing Director, Qyuki.

The startup had secured funding from Cisco Systems in February 2012 and was re-launched in same year.

Qyuki offers a platform for artists to share their content, connect to people with similar creative interests, view creations from various other artists, and collaborate with them to create content.

Qyuki offers infrastructure across multiple studios in Chennai, Mumbai and Bengaluru, with a special studio in Dharavi made to nurture talent in Asia’s largest underprivileged community.

It already has over 200 artists on its platform and is looking at doubling the network in this year. The company has recently tied-up with Los Angeles-based media company Fullscreen, which provides Indian digital content creators with opportunities to monetise and distribute their content and access to production and technology services from both networks.

Post a Comment

Previous Post Next Post
Like this content? Sign up for our daily newsletter to get latest updates.