Mumbai: Laminar, the Platform as a Service (PaaS) that enables content owners to launch OTT services, raised $5.11 million in seed funding led by Artha India Ventures (AIV) and Leo Capital, Garuda Ventures, Cloudcap, and Sampson Acquisitions, Inc. also participated in the round. This raise will accelerate product development and market expansion.
Laminar claims that it enables content owners to launch a global OTT service in 12-weeks or less. It enabled Chaupal, a leading multi-regional OTT platform from India, to launch in 110 countries in 12 week.
Laminar allows brands to launch a globally compliant streaming service through its fully managed PaaS offering; all offered under one roof. The Platform’s current clientele includes Chaupal TV, Planet Entertainment, and Streaming Faith brands across two continents.
Narendra Nag, Co-Founder and CEO, Laminar, said, “Laminar will immensely benefit from the collective experience of our investors in rapidly scaling our business and expanding our global footprint. In Nielsen’s recent State of Play report the number of people subscribing to four or more services has more than doubled in the US — this is a secular trend around the world. Such growth will only accelerate as consumers coalesce around (and pay for) content that speaks to their cultural reality.”
Anirudh A Damani, Director, Artha India Ventures, said, “This is our 1st significant investment in Europe, and we are glad that it is in Laminar.
Laminar gives content creators the backbone to challenge the duopoly of Netflix & Amazon Prime by building the world’s first zero code cloud-based PaaS offering. We were pleasantly surprised by the width of their client base that needs Laminar to solve their pressing issue. Because they let OTT content providers focus on their core business – creating content!
Moreover, we see immense potential in the OTT-enabler ecosystem and are glad that we backed the best team for a PaaS offering in the segment.”
Rajul Garg, Founding Partner, Leo Capital, said, “Media companies can see content consumption rapidly shifting away from cable, satellite, and DTH worldwide. Laminar has timed this industry transition beautifully with a product that is ready today for media companies who don’t want to spend time and money re-inventing the wheel, and we are excited to partner with them to help create the next global leader in the media-tech space.”