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ABC Talkies raises Rs. 2 Crore in its first round

Film-tech startup ABC Talkies raises Rs 2 Crore in its First Round

Funding News

ABC Talkies raises Rs. 2 Crore in its first round

Gurgaon based Film-tech startup, ABC Talkies, started in February 2020, raised INR 20,000,000 in its first round of funding led by an angel investor who is also the CMD of a 21 year old 500+ Employee IT company based out of Ahmedabad. ABC Talkies touts itself as the “World’s First Cinema Market” by being the largest content channel for the OTT players while also removing the “subscription stress” through their Pay-Per-view model.

ABC Talkies will deploy the new capital into accelerating growth of the brand. From strengthening product development, to increasing its marketing activities which will further result in increasing its user base. This increase in user base will subsequently lead to significant improvement in the quality of content and also increase in the number of filmmakers considering the PPV option for monetization. It will also assist ABC Talkies reach out to brands for advertisements and content production sponsorships and furthering the development of the platform to offer more value to the consumer and the all other stakeholders

Talking about the funding Mr. Shalibhadra Shah, CEO, ABC Talkies commented, “We are in the process of our mobile app development and this round of funding could not come at a better time. ABC Talkies is at a critical juncture where scaling and sustaining operations is extremely important for survival. This funding will help ABC continue with its pursuits of becoming India’s first and only FILM-TECH platform while helping it scale-up.”

Adding to it, Mr. Siddharth Sinha, CCO and Co-Founder, ABC Talkies stated, “Taking into account the new Reserve Bank of India (RBI) rules requiring authentication by users which kicked in last month for subscription based platforms there is an expected shift from SVOD to TVOD, thus this seems like an ideal time for us to ramp up our services and the funding is right on time.”

Also Read: Anarock plans to raise USD 100 mn to acquire proptech startups

The differentiating factor of ABC Talkies is that it is not a direct competition to main-stream players. The disruptive and long-term vision of the company is to become a market leader in the segment.

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