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.
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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.
