Aeon Comm plans to raise $15-20 mn for interactive TV service

City-based Aeon Communication, a part of Aeon group, plans to raise USD 15-20 million to fund its expansion plans.
"We are looking at raising around USD 15-20 million towards overall funding for expansion. We intend to start with raising small sums of USD 3-5 million for commercial deployment of interactive television application," Aeon Communication Director Atul Naik said in a statement here.
"The proceeds will be deployed to initiate installation of home gateways at consumer households like a cable set-top-box over the next one year.
"The set-top-box developed by Aeon doubles in for a WiFi router, surround sound console, an entry level PC that facilitates digital governance, local T-commerce, T-banking and interactive education at the comfort of one's home," Naik said.

Currently, Indian Cable Network Service Providers are providing conventional broadcast pay & free TV channels over their networks, posting losses perpetually as the average revenue per user for conventional services do not suffice to make-up with Pay TV charges, levies and maintenance.
With additional revenue share from Aeon Value added services, the overall business breaks even within 8 quarters, he said.

Similarly, a household consumer can use the Home Gateway as a low-cost computing device for basic computing needs and consumption of various services.
Aeon Communication has been awarded technology sponsorship by Intel Corporation that has invested in the company through Intel Capital.

The company offers fully integrated web based ERP, Backend and Operational Support and has enabled the entire ecosystem with an emphasis on high quality interactive audio-visual education, mind maps, entertainment and other VAS.