iflix, a Subscription Video on Demand (SVoD) service for emerging markets, completed a $133m funding round.
The round was led by Hearst, with participation from new investors Singapore-based EDBI and clients of DBS private bank and existing shareholders Evolution Media, Sky PLC, Catcha Group, Liberty Global, Jungle Ventures and PLDT Inc.
The proceeds will be used to invest in its local content strategy.
Launched in May 2015 by Co-Founder and Group CEO Mark Britt, iflix provides a Subscription Video on Demand (SVoD) service for emerging markets, offering users access to thousands of TV shows and movies from all over the world with a huge selection of comedies, drama, Korean drama, Turkish drama, Bollywood, Nollywood, cartoons, movies and more from Hollywood, The UK, Asia, the Middle East and Africa. Subscribers can watch the content on their mobile phone, laptop, tablet, TV… wherever, whenever.
It is currently available to consumers in Malaysia, Indonesia, the Philippines, Thailand, Brunei, Sri Lanka, Pakistan, Myanmar, Vietnam, the Maldives, Kuwait, Bahrain, Saudi Arabia, Jordan, Iraq, Lebanon, Egypt, Sudan and Cambodia.