Veqta a mobile based digital broadcast network has received its seed round funding of $500k from Chatsworth Management an early stage venture capital and ITW a sports management company. The funding will be utilized to build the team, expansion of its right portfolio, grow consumer reach and product development.
Veqta was founded in 2015 by Vikram Tanwar and Varun Mathur. It provides sports content with video on demand and live streaming for sports like football, cricket, wrestling, MMA, motorsports, bastketball, badminton, Olympic sports and tennis.
Varun Mathur co-founder of Veqta said
“We are bringing content from numerous global partners. They will be offered in an innovative format that is mobile friendly, short and in resolutions that the Indian bandwidth can handle. We will also be offering sports content in regional languages. We have a freemium model where a large part of the content is available to all customers free of cost and we have selected content behind a paywall.”
The app is available on both iOS and Android platform and users can subscribe their monthly package for Rs 99 only or yearly package for Rs 999 only. Some content is available for free also.
Vikram Tanwar, co-founder of 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.”