Singapore-based seed stage investor Mercatus Capital and content producer and distributor Hub Media Group have invested an undisclosed amount in PurpleStream Convergence, a video streaming services provider based in Chennai, India.
PurpleStream’s technology enables smooth delivery of high definition video to customers in the US, UK, Canada and Australia. It also claims the technology has unique live broadcasting capabilities.
The business has begun expanding its service offering to global broadcasters, content aggregators and over-the-top content providers, and is in discussions with various government agencies, content delivery networks and content owners to leverage its video delivery platform through PurpleCloud.
Following the deal, PurpleStream will also move its headquarters from India to Singapore for the launch of PurpleCloud, the company’s new broadband video delivery platform.
“We have already started working with PurpleStream on several projects in Hong Kong, Malaysia, the Philippines, Indonesia and Mexico for the delivery of TV shows and movies across multiple territories,” said Hub Media CEO Kevin Balhetchet.
Mercatus Capital is a seed-stage investor, incubator and business accelerator. Its portfolio includes around 40 businesses including the healthcare, ICT, social media and material sciences sectors.
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