Digital Media Startup PK Online Plans Fund Raise
To consolidate its technology platform and brand building, PK Online, a digital media startup is in talks with VC funds to raise around R100 Cr in its first round of funding by mid this year.
@Nirvana_Venture and Bertelsmann India Investments are the two VC funds, who are looking forward to pick up 25%-30% stake in the company. Currently, the firm is in the process of raising funds from unknown investors to fuel its expansion plans for next 3-4 years.
The company was founded in 2007 by Viraj Malik, PK Online produces mobile and online content, including live videos, movies and music. It claims to have 1 Mn monthly users. The mobile video service has over 30 curated content channels, video on demand and over 100 broadcast channels. It also runs ad supported content channels like Cinecurry on YouTube.
PK Online was earlier branded as Percept Knorigin. It was a part of Percept, a media and entertainment groups before being spun off. Percept had invested about R2 Cr in PK Online at the time of its inception and continues to own about a third of the company.
The company has kicked R26 Cr in revenues in FY14 and has plans to touch R50 Cr in next year. It has headquartered office in Gurgaon with presence in Bangalore, Mumbai and Dubai (UAE)
The firm competes with Apalya Technologies a mobile video streaming company which had raised $10 Mn from Cisco Systems.