VEQTA has raised $500,000 in seed round funding from early stage venture capital firm Chatsworth Management and ITW. The venture had earlier received initial stage backing from ITW.
Founded by Vikram Tanwar and Varun Mathur, VEQTA aims at redefining how sports is consumed in India by serving fans a selection of the best sports content from across the globe through Video On Demand and Live Streaming.
Vikram Tanwar, Co-founder, VEQTA said, “VEQTA is a unique offering that covers a wide variety of sports in innovative content formats and will expand to multiple languages in the future. As a dedicated sports network, we will follow a ‘Freemium’ model with a large pool of content available to all users and selected premium content behind a paywall. This will include licensed content and also our flagship studio content across Cricket, Football, Action Sports, Motorsports, Basketball, Tennis, Badminton and a wide range of Olympic Sports. VEQTA will be a destination for sports fans to enjoy unmatched width & depth in content coming from the biggest names in the business. The funds secured will be used to further expand our rights portfolio, build our team, invest further in product development and grow our consumer reach.”
VEQTA will be launching its flagship OTT Service in the next few weeks to engage sports fans across India.