PressPlay TV to raise fresh funds, add 50 more cities

Video-streaming platform PressPlay TV is looking to raise fresh funds as the company is eyeing expansion of its services to 50 more cities in the next three months.
The Delhi-based firm provides its services in 100 cities across the country.
"There are a lot of video-streaming platforms, but the major problem here is Internet connectivity. We at PressPlay is trying to solve that, so that people can enjoy videos online without buffering," PressPlay TV co-founder and CEO Anand Sinha told PTI.
"We have installed 2,500 hotspots across the cities we are present in. Now, suppose someone is waiting at a bus stop, he can connect to that hotspot through the app, download the content and watch it offline while travelling. He can also see it online," he added.

The company intends to take the number of hotspots to 10,000 in the next six months.
"We are ramping up operations after the huge response we have received since we launched seven months ago. We will take the number of hotspots to 10,000 in six months and add 50-60 more cities in three months," Sinha said.

"To finance these expansion plans, we are looking to raise about USD 3-5 million. We are already in talks and hoping to close the round in 45 days."
The Delhi-based firm has already raised USD 2.2 million seed fund from Sequoia Capital.
PressPlay has also tied up with 30 production houses for providing content to the platform.

"We have tied up with leading brands like Eros, Shemaroo and Viacom, among others. Further, we look to forge our tie-ups with other content producers," Sinha said.
He also said the company is in talks with Youtube content creators for generating video for PressPlay.
The company is currently working with a team of 55 people.