VEQTA, Indian digital broadcast network (OTT) dedicated to sports, has announced $500,000 in seed round funding from early stage venture capital firm Chatsworth Management and ITW, India’s leading sports management company. The venture had earlier received initial stage backing from ITW.
Founded by sports industry leaders Vikram Tanwar and Varun Mathur, VEQTA aims at redefining how sports is consumed in India by serving fans a selection of the best sports content from across the globe through Video On Demand and Live Streaming.
Vikram Tanwar, Co-founder, 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. This will include licensed content and also our flagship studio content across Cricket, Football, Action Sports, Motorsports, Basketball, Tennis, Badminton and a wide range of Olympic Sports. VEQTA will be a destination for sports fans to enjoy unmatched width & depth in content coming from the biggest names in the business.
It is great to have investors who are working closely with us to build, grow and scale the VEQTA platform. The funds secured will be used to further expand our rights portfolio, build our team, invest further in product development and grow our consumer reach. ”
Gaurav Gill, Managing Partner, Chatsworth Management said, “VEQTA has a highly experienced and passionate team that is deeply entrenched in the sports business and understands best the evolving needs of young consumers in India.
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 under served in India unlike other markets in the west, where it is one of the largest segments. VEQTA with its highly innovative offering will change that as the new home of sport for fans in the country”
VEQTA will be launching its flagship OTT Service in the next few weeks to engage sports fans across India. It brings a unique selection of sports action across Cricket, Football, MMA, Wrestling, Basketball, Motorsports, Tennis, Badminton, Olympic Sports etc. from the most authentic sources all over the world and the best analysis/opinions from world class experts.
