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Seventymm raises Rs 50 crore in Series C funding led by NEA-Indo US Ventures

Movie rental company Seventymm.com has raised Rs 50 crore in Series C funding led by NEA-Indo US Ventures. Seventymm had earlier raised Rs 40 crore in funding from VC firms including Matrix Partners India, Draper Fisher Jurvetson and ePlanet Ventures, who also participated in this round.

Movie rental company Seventymm.com has raised Rs 50 crore in Series C funding led by NEA-Indo US Ventures. Seventymm had earlier raised Rs 40 crore in funding from VC firms including Matrix Partners India, Draper Fisher Jurvetson and ePlanet Ventures, who also participated in this round.

Raghav Kher, founder and CEO, Seventymm, has said, “We are delighted to partner with a reputed firm like NEA Indo-US Ventures and this reaffirms our strategic direction. Our vision of movies anytime, anywhere through Seventymm is now a looming reality rather than a distant dream.” [Source: TelevisionPoint]

“We will be spending the money raised from funding on branding activities, content acquisition and expanding our presence in the country,” Subhanker Sarker, chief operating officer, Seventymm.com, has said. “We have a budget of Rs 8 crore for this financial year to carry out marketing activities across various media.” [Source: Afaqs]

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