Planet Marathi said that A & MA Capital USA is expected to inject more funds in the startup over the next two quarters
Planet Marathi founder Akshay Bardapurkar said that the investment will be used to enhance the platform’s offerings and content slate
The OTT platform has also inked a strategic agreement with media tech company Dcafe to strengthen its technological capabilities
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Regional OTT platform Planet Marathi OTT has raised $5 Mn funding from private equity (PE) firm A&M Capital USA.
In a statement, Planet Marathi said that the PE firm is expected to inject more funds in the startup over the next two quarters.
Planet Marathi founder Akshay Bardapurkar said that the investment will be used to enhance the platform’s offerings and content slate.
Founded in 2017 by Bardapurkar, Mumbai-based Planet Marathi offers Marathi language content. Its content is from various genres, including romance, comedy, family drama, politics, crime, thriller, and satire.
“We are committed to growing the Indian regional entertainment space. As a company, we remain dedicated to bringing the best quality entertainment on OTT, and with our new partners, we will take this dedication to new heights,” Bardapurkar added.
Besides the investment, Planet Marathi said it has inked a strategic agreement with media tech company Dcafe to strengthen its technological capabilities.
Dcafe is a US-based OTT technology provider that helps platforms manage and distribute on-demand and live-stream videos.
Bardapurkar said that the partnership with Dcafe will help the startup solidify its position in the tech-driven entertainment landscape.
Prior to this funding round, Planet Marathi raised $5 Mn from Singapore-based Vistas Media Capital (VMC) in 2020.
In the regional OTT platform segment, Planet Marathi competes with the likes of Stage, aha, and Hoichoi.
India is one of the largest OTT markets in the world. While monetisation has been an issue for companies in the space, it has not stopped major global players from investing in the country.
From Amazon Prime Video and Netflix to JioCinema and Disney+ Hotstar, the Indian OTT space is highly competitive. Amid these, OTT players focussed on regional languages are carving out a niche for themselves.
In November last year, Olympic medalist Neeraj Chopra invested an undisclosed sum in regional OTT platform Stage. Prior to that, the startup also raised $4.83 Mn in a funding round led by Blume Ventures in January 2023.
As per Inc42, the country is home to nearly 100 OTT players spread across music, video, audio, and podcast categories.
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