Spuul seeks up to US$100MN investment


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Rebecca Hawkes

| 27 November 2015




Online streaming platform Spuul is reportedly in talks with Softbank Group and other financial investors in a bid to raise between US$75 million and $100 million.



The Indian over-the-top (OTT) video provider, based in Singapore, is also in funding discussions with Providence Equity Partners, according to the Economic Times.

Spuul has mandated Macquarie Group to raise capital for the next stage of its expansion. Currently 60% of its video-on-demand (VOD) audience is based in India, while the rest is from the diaspora in the US, Australia and elsewhere.

Founded by Sudesh Iyer (a founder of Sony Entertainment Television India), S Mohan (founder of Accellion and buUuk) and banker Subin Subaiah, Spuul launched in 2010. It offers advertising-supported subscription to its Bollywood movies and South Asian TV series.

Japan’s Softbank Group is the largest investor in India’s Internet and technology space.