Iflix, the streaming video carrier that competes with Netflix in Southeast Asia and different rising markets, announced today that it has raised a brand new circular of funding led by fidelity international, with participation from returning investors Catcha neighborhood, Hearst, Sky and EMC. The Malaysia-based company didn’t reveal the amount of the circular, however mentioned it totals greater than $ 50 million and may be used for increase ahead of a possible public providing.
Iflix additionally introduced new media groups as traders, together with MNC, Yoshimoto Kogyo and JTBC, from Indonesia, Japan and South Korea, respectively. The business at present claims 17 million energetic users, up from 9 million six months in the past. In a statement, co-founder and chairman Patrick Grove noted “These investments are a clear affirmation of IFlix’s business model and growth possibilities, and strengthens our ties to one of the vital region’s greatest suppliers of native content material.”
In 2017, the Netflix competitor had raised US$133 million to focus more on producing its own original content. EDBI, Evolution Media, Catcha Group, Jungle Ventures, and Philippine Long Distance Telephone Company, among others, invested in the round.
Iflix’s service currently covers Malaysia, Indonesia, the Philippines, Thailand, Brunei, Sri Lanka, Pakistan, Myanmar, Vietnam, Cambodia, Nepal, and Bangladesh.
The enterprise announced seven months ago that it had sold off its ultimate shares in its Africa enterprise, referred to as Kwesé Iflix, to center of attention on its markets in Southeast Asia and the middle East. The newest round brings its complete funding raised so far to more than $350 million,