Mobile-based digital broadcast network dedicated to Sports, VEQTA, has raised $500K in Seed funding from early stage venture capital firm Chatsworth Management and sports management company ITW Digital.
VEQTA was launched in 2015 by Vikram Tanwar and Varun Mathur. The platform provides sports content through video on demand and live streaming across various sports like cricket, football, MMA, wrestling, basketball, motorsports, tennis, badminton, and olympic sports. It is planning to launch its OTT Service in the next few weeks to engage sports fans across India.
Vikram Tanwar, co-founder of VEQTA said, “VEQTA is a unique offering that covers a wide variety of sports in innovative content formats and will expand to multiple languages in the future. As a dedicated sports network, we will follow a ‘Freemium’ model with a large pool of content available to all users and selected premium content behind a paywall.”
VEQTA, which was earlier backed by ITW, plans to utilise the funding to expand its rights portfolio, build the team, invest further in product development and grow consumer reach.
The OTT service space for streaming and video on demand is one of the fastest growing spaces for digital businesses.
There are offerings in the movies, general entertainment, and music genres. However, sports is highly underserved in India unlike other markets in the west, where it is one of the largest segments. Recently, Times Internet had acquired Willow TV International, a cricket broadcaster in the US.
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