In a significant development for India’s rapidly expanding connected TV (CTV) sector, tech entrepreneur Nikhil Kamath and venture debt fund Stride Ventures have secured minority stakes in Streambox Media, a media-tech startup founded by seasoned media executive Anuj Gandhi.
This investment aligns with Streambox’s plans to launch ‘Dor,’ a subscription-based CTV service, along with an indigenous TV operating system designed to enhance content discovery. The venture has garnered support from Micromax, a major player in the mobile phone industry.
While the specific details regarding the stakes acquired and the valuation remain undisclosed, it is confirmed that Micromax continues to hold a majority interest in Streambox, with Gandhi retaining a substantial minority share.
Nikhil Kamath, co-founder of Zerodha, highlighted Streambox’s objective to address the increasing issue of content fragmentation in a saturated streaming market. As smart TVs become the norm, replacing traditional television sets, the demand for streamlined streaming services is on the rise. Streambox’s upcoming offering, Dor, is poised to enhance user experience by simplifying the process of content discovery across various connected devices.
Ishpreet Singh Gandhi, the Founder and Managing Partner of Stride Ventures, expressed his belief in the global potential of Streambox’s TV OS. “We plan to invest strategically over the next 18 months based on the business’s evolving requirements. Our partners are dedicated to ensuring that the necessary resources are allocated,” Gandhi stated.
Additionally, Vikas Jain, co-founder of Micromax, conveyed his optimism regarding the market entry of the Dor smart TV, anticipating that it will capture a significant share in its inaugural year. Jain attributes this confidence to the device’s competitive pricing, its homegrown OS, and its capability to aggregate content seamlessly.
According to Media Partners Asia (MPA), the connected TV market in India is expected to witness impressive growth, with the number of connected TV households projected to surpass 100 million by 2027, a marked increase from 40 million in 2023.
Streambox is set to differentiate itself in a competitive landscape dominated by global tech giants by providing a unified content experience from various streaming platforms and offering tailored recommendations across all devices.