[Funding alert] OTT player TVF raises $2M in debt from BlackSoil
TVF will utilise the funding for the production of new web series and content for brands and OTT platforms like Netflix, Amazon Prime, Sony, etc.
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, a Mumbai-based video on demand and over-the-top streaming service, has raised $2 million in debt funding from venture debt firm BlackSoil. The company will be using the funds for its working capital requirements on the production of web series and other content for its clients that include both brands and OTT platforms.
BlackSoil had earlier provided venture debt to TVF in 2019 and is renewing their partnership in 2021.
Founded in 2010, TVF produces branded content for its own channels and OTT giants like Netflix, Amazon Prime, Sony, etc. The company is focused on solving the lack of new generation content for India’s young teenage audience. Today, it has more than 10 million subscribers on its YouTube channel.
“TVF has consistently delivered hits over the last decade by producing relatable content with relatable characters for India’s youth. The dearth of quality content and its increasing demand because of the OTT boom will further ensure the continuing success of TVF and its shows. It is our pleasure to be able to support them in their journey,” added Ankur Bansal, Co-founder of BlackSoil.
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“We have a great pipeline of shows for the next couple of years to meet the increasing demand of quality content from the audiences. This debt raise is going to help us deliver this pipeline and fully take advantage of the OTT boom. We are extremely excited to renew our partnership with BlackSoil,” said TVF President, Vijay Koshy.
According to TVF, the Indian video OTT market in India is expected to grow from $1.5 billion in 2021 to $4 billion in 2025 and further to $15 billion by 2030.
BlackSoil manages an alternative credit platform and has deployed Rs 2,500+ crore across 140+ deals. Some of BlackSoil’s noteworthy investments include B2B unicorns , and , online platform for refurbished used cars and soonicorn , furniture subscription platform , online marketplace for cosmetics , and hospitality giant , among others.
