SVoD service provider Iflix has completed a USD 133 million funding round. Proceeds from this funding round will be used to support Iflix's local content strategy, developing more films and series for specific country markets and languages.
The funding round was led by Hearst and also included new investors Singapore-based EDBI and clients of DBS private bank. Existing shareholders Evolution Media, Sky, Catcha Group, Liberty Global, Jungle Ventures and PLDT also increased their investments.
The new round brings total funding raised by Iflix this calendar year to USD 220 million. In addition to its recent launch in the Middle East region and ongoing expansion in Asia, Iflix plans to launch in Africa later this year. In the last 12 months, Iflix has expanded from four to 19 active markets. A key part of its strategy is bundling its services with mobile data subscriptions from local telecom operators.
