Nikhil Kamath and Stride Ventures acquire minority stakes in Streambox Media

Streambox to launch 'Dor,' a made-in-India TV OS, aiming to streamline content discovery in the growing connected TV market.

By  Storyboard18Oct 25, 2024 9:06 AM
Nikhil Kamath and Stride Ventures acquire minority stakes in Streambox Media
Nikhil Kamath, co-founder of Zerodha, emphasized that Streambox aims to solve the growing problem of content fragmentation in an increasingly saturated streaming market.

In a strategic move to tap into India's burgeoning connected TV (CTV) market, tech entrepreneur Nikhil Kamath and venture debt fund Stride Ventures have acquired minority stakes in Streambox Media, a media-tech venture founded by veteran media executive Anuj Gandhi, as per reports.

The investment comes as Streambox, backed by mobile phone giant Micromax, prepares to launch its subscription-based CTV service, 'Dor,' alongside a made-in-India TV operating system (OS).

While the exact details of the stakes and valuation have not been disclosed, Micromax retains the majority ownership of Streambox, with Gandhi holding a sizable minority stake.

Nikhil Kamath, co-founder of Zerodha, emphasized that Streambox aims to solve the growing problem of content fragmentation in an increasingly saturated streaming market.

Streambox’s entry into the media-tech space comes at a time when smart TVs are replacing traditional television sets, with streaming services gaining dominance over linear TV in major cities. Streambox’s upcoming CTV service, Dor, promises to simplify content discovery and improve the user experience across connected devices.

Ishpreet Singh Gandhi, Founder and Managing Partner of Stride Ventures, expressed confidence in the global potential of Streambox’s TV OS. "We will invest strategically over the next 18 months based on the business’s needs. All partners are committed to ensuring the necessary investments are made," said Gandhi in a report.

Meanwhile, Vikas Jain, co-founder of Micromax, shared his optimism about the Dor smart TV's market debut, projecting it to capture a significant market share in its first year. Jain attributed this confidence to the device's affordability, its indigenous OS, and the ability to aggregate content seamlessly.

The connected TV market in India is projected to see substantial growth, with connected TV households expected to exceed 100 million by 2027, up from 40 million in 2023, according to Media Partners Asia (MPA).

Streambox aims to stand out in a competitive space dominated by global tech giants by unifying content from multiple streaming services and offering personalized recommendations across all screens.

First Published on Oct 25, 2024 9:06 AM

More from Storyboard18

Brand Marketing

Reliance Retail Ventures posts 11.3% rise in revenue to Rs 84,171 crore in Q1 FY26

Reliance Retail Ventures posts 11.3% rise in revenue to Rs 84,171 crore in Q1 FY26

Brand Marketing

Perplexity AI overtakes ChatGPT on App Store after Airtel deal sparks download surge

Perplexity AI overtakes ChatGPT on App Store after Airtel deal sparks download surge

Brand Marketing

No dyes, no flavors: PepsiCo goes all-in on 'real food' for snack rebrand

No dyes, no flavors: PepsiCo goes all-in on 'real food' for snack rebrand

Brand Makers

Larry Ellison, world's second richest man, launches global tech institute with Oxford

Larry Ellison, world's second richest man, launches global tech institute with Oxford

Brand Marketing

Airtel-Perplexity AI tie-up sparks online chatter over Apple, ads, and AI adoption

Airtel-Perplexity AI tie-up sparks online chatter over Apple, ads, and AI adoption

Brand Marketing

OpenAI launches general purpose "ChatGPT Agent" for automated task completion

OpenAI launches general purpose "ChatGPT Agent" for automated task completion

How it Works

YouTube Premium's muffled pitch: Why a "sound strategy" isn't converting in India

YouTube Premium's muffled pitch: Why a "sound strategy" isn't converting in India

Brand Makers

PepsiCo sees strong Q2 growth in India; Snacks, beverages drive international surge

PepsiCo sees strong Q2 growth in India; Snacks, beverages drive international surge