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Vamshi Reddy co-founded Apalya raises $3 Million
By siliconindia
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Bangalore: Hyderabad-based mobile entertainment start-up Apalya Technologies or MimobiTV, has raised $3 million in in a new venture funding round. This round of funding is led by venture capitalists (VC) - IDG Ventures India and Qualcomm Ventures.
As reported by MediaNama, with the funds, this mobile TV company will prepare for 3G, which is expected to be deployed next year with auctions being postponed again, this time to allow foreign telcos to participate and keeping in mind that the Christmas holidays are nearing. Apalya is already powering mobile TV for 3G networks of BSNL and MTNL (in Delhi). The company received 
20 million a year ago from Mumbai Angels and has launched mobile TV for a slew of telcos including Tata Indicom, Aircel (in Tamil Nadu only), Idea Cellular and Vodafone.
Founded in 2005, Apalya will introduce customised entertainment channels, premium video programming and exclusive to the mobile content for 3G networks. Besides product development, it will also build up on infrastructure and scale up its workforce in the country. Currently, the company employs 50 personnel. "We were a pretty small team; we want to bring expertise so that we are ready for the 3G operations," said Vamshi Reddy, Co-Founder, and CEO of Apalya Technologies.
Along with this funding, T C Meenakshisundaram and Ranjith Menon of IDG Ventures India will join the board of directors at Apalya.
20 million a year ago from Mumbai Angels and has launched mobile TV for a slew of telcos including Tata Indicom, Aircel (in Tamil Nadu only), Idea Cellular and Vodafone.
Founded in 2005, Apalya will introduce customised entertainment channels, premium video programming and exclusive to the mobile content for 3G networks. Besides product development, it will also build up on infrastructure and scale up its workforce in the country. Currently, the company employs 50 personnel. "We were a pretty small team; we want to bring expertise so that we are ready for the 3G operations," said Vamshi Reddy, Co-Founder, and CEO of Apalya Technologies.
Along with this funding, T C Meenakshisundaram and Ranjith Menon of IDG Ventures India will join the board of directors at Apalya.