Online video streaming service Hotstar, owned by Novi Digital Entertainment, has received a fund infusion of Rs 5.16 billion from Star US Holdings even as it looks to fend off competition from giants such as Netflix and Amazon’s Prime Video.
The Indian over-the-top (OTT) content firm raised the capital on July 24 at a valuation of Rs 18.49 billion (around $270 million), according to financial documents sourced from business intelligence platform Paper.vc.
The valuation of the company is being driven up by an incredibly fast-paced revenue and operating profit growth. In the three months ended June 2018, Hotstar reported Rs