Corpus Media Labs, which offers digital and internet protocol TV (IPTV) solutions, is raising $20 million through private equity for growth.
The company recently launched the concept of 'DTV in a box solution’. It also has a software brand 'Tornado’ to drive its IPTV, which it now has deployed in Accor group of hotels.
Corpus also offers the entire range from low cost set-top-box solutions to premium high definition, hybrid and over the top solutions.
“We have shortlisted the PE investors and will close the deal in the next few months. The reason to raise funds is three-fold. To expand markets in Latin America and Africa, to acquire content and raise working capital to drive growth”, Sachin Tummala, Chief Executive Officer, told Business Line.
This is the first round of fund raising for the company, which is gearing up to get a good share of the estimated $400 million business in the cable to digital market in the country. Global trends also point to television broadcasting undergoing a major transition with new features such as HD, 3D, multi channel, streaming & mobility, he added.
With the entry into hotel chains for its IPTV and digital signage solutions to Thai food network, Corpus, the Bangalore headquartered company is lining up products for the healthcare sector next, he said.