Yupp TV to raise $60 million in four months

Hyderabad: Online TV streaming service Yupp TV, which launched its operations in India on Wednesday, plans to raise $60 million in the next three-four months, said its founder and CEO, Mr Uday Reddy.

“We will be closing in on a $10 million initial offering in November and plan to raise Series B funding of $50 million in three to four months. We are already in talks with some investors,” he said.

It had earlier raised $11 million in 2006-07. The company also plans to launch a curated video market place where “content generators like AIB and TVF, who stream their content on Youtube will get a platform.” “With this launch, we expects to double our turnover this year to $30 million from the $16 million the previous year,” said Mr Reddy.