Hyderabad-based Apalya Technologies which provides mobile video platform, announced $ 3 million in funding from Qualcomm Ventures and IDG Ventures India.
Commenting on the investment, Mr. T C Meenakshisundaram, Founder and Managing Director, IDG Ventures India said, “Apalya fits well with the fund's criteria of a good team, disruptive technology and a large opportunity in Mobile VAS space, as Mobile TV/Video has been a “Killer-App” in other 3G markets.” The mobile VAS market has grown by around 60 per cent year on year and is estimated to touch INR 251 billion in FY 2009-10.
Mr. Karthee Madasamy, Director at Qualcomm Ventures said, “Apalya has built a successful business around mobile data services with an innovative Mobile TV and video platform suited for the Indian market. Qualcomm is pleased to invest in Apalya to help the company as it expands its offerings to 3G wireless networks now and pursues dedicated mobile TV deployments in the future.”
“Through this deal, we get to leverage IDG’s media expertise with their Venture team’s vast operational experience and Qualcomm’s expertise, as the leader in Mobile Technology”, said Mr. Vamshi Reddy, Co-founder, and CEO of Apalya. He added that when Apalya was envisioned, they decided to build customized solutions for 2G network, which they eventually knew would evolve to 3G. “Today, with the Indian market opening up to 3G, we plan to introduce additional mobile entertainment services, including customized entertainment channels, premium video programming and mobile-exclusive original programming”, said Mr. Reddy.
Co-Founder and CTO of Apalya said the company believes that Data Services will be a key driver for improving the overall telecom revenue and profitability.
The company has 50 employees on its roll and its partners include Airtel, Aircel, BSNL, Idea Cellular, MTNL, Reliance, Spice, Tata Indicom, Tata DOCOMO and Vodafone. It is already offering live video streaming to the 3G subscribers of BSNL and MTNL. ESPN’s mobile TV service offering is also powered by Aplaya.
Mr. T C Meenakshisundaram and Mr. Ranjith Menon will represent IDG Ventures India on the Board of Directors at Apalya and Mr. Karthee Madasamy will represent Qualcomm Ventures as a Board observer.