Nikhil Kamath, Stride Ventures Invest in Streambox Media
Media-tech firm Streambox Media, founded by veteran media executive Anuj Gandhi and backed by Micromax, has been acquired of significant minority stakes by tech entrepreneur Nikhil Kamath and venture debt fund Stride Ventures. While the stakes and valuation have not been disclosed, Micromax retains majority control while Gandhi continues to hold a major minority share.
Streambox Media prepares to launch the subscription-based CTV service 'Dor' along with made-in-India TV OS for easier content discovery and an enhanced user experience on connected devices. With the increasing popularity of smart TVs and streaming services as an alternative for more traditional television viewing in major cities, such venture hardly could have come at a better time.
Kamath emphasized Streambox's contribution toward solving the growing problem of content fragmentation in an increasingly crowded video streaming market. "With the rise of so many different platforms and choices, content consumption is becoming ever more fragmented, exhausting in terms of switching between apps. That's where I see Streambox adding value", Kamath said.
Ishpreet Singh Gandhi, Founder and Managing Partner of Stride Ventures, said that TV OS by Streambox has worldwide potential and Stride will make strategic investments in the firm for the next 18 months to get this business up and running. "All partners are committed towards making necessary investments to strengthen the position", he further added.
According to Vikas Jain, Co-Founder of Micromax, he believes that Dor's market entry will do well taking significantly high market share in the very first year itself, as the device is affordable, there's an indigenous OS, and content aggregation features.
According to Media Partners Asia, connected TV households in India are projected to rise from 40 million in 2023 to more than 100 million by 2027, thereby making a healthy demand for connected TV solutions like Streambox. In a space dominated by global tech majors, Streambox looks to unify content from the screens of numerous streaming platforms and then offer recommendations aggregated across multiple screens. "We aim to simplify the access of content and personalize the viewing experience", noted Anuj Gandhi.