Economic Times: May 19, 2016
Bengaluru: Veqta , a digital broadcast network dedicated to sports, has received $500,000 (about Rs 3.3 crore) in seed-round funding from early-stage venture capital firm Chatsworth Management and sports management company ITW .
The startup had earlier received initial stage backing from ITW.
Veqta, which offers video-on-demand and live streaming, will use the funds to get more content rights, expand the team and enhance the technology offering.
"We are bringing content from numerous global partners. They will be offered in an innovative format that is mobile friendly, short and in resolutions that the Indian bandwidth can handle. We will also be offering sports content in regional languages," said Varun Mathur , cofounder of Veqta.
The Android and iOS apps will go live in the next few weeks and subscribers can get content for Rs 99 a month or pay Rs 999 per year. A good chunk of the content is available for free too.
"We have a freemium model where a large part of the content is available to all customers free of cost and we have selected content behind a paywall," said Mathur.
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