Mumbai-based digital entertainment service provider, Famebox Network Ltd which runs under the brand #fame has raised USD 10 million in series A round from existing investor and stakeholder digital media firm To The New Ventures (TTN Ventures). Initially, the firm secured USD 3 million seed round from TTN.
As per a VCCircle report, the raised funding will be used to scale #fame‘s original digital video business as well as to grow its talent network for technology and geographical expansion.
#fame is creating content for web and mobile platforms and which is currently available on YouTube, Facebook, WeChat, Daily Motion etc. It is building a pan-Asian digital video network that produces more than 150 videos on a monthly basis and also targets to expand it to over 1,000 original videos. The firm focuses on emerging and established talent to build digital video channels and communities and has identified six key markets in Southeast Asia, including Indonesia, Thailand, Singapore, Malaysia and Philippines apart from India.
TTN had also acquired Delhi-based Tangerine, a company which creates and manage content on the web, mobile and social media platforms and Intelligrape, a mobile and web application development company. In 2011, the firm had bought Mumbai-based digital marketing service company, Ignitee Digital Services. TTN is backed by Four Cross Media services, a firm started by former chief of Coca Cola India, Sanjiv Gupta and backed by Malaysian media group Astro.
Image Source: #fame