iflix Announces Fresh Funding, MNC is Involved

A video-on-demand platform "iflix" today (7/26) announced new investment in the corporate round. The amount is classified, led by Fidelity International.  Some Asian media are involved in this round, such as MNC from Indonesia, Yoshimoto Kogyo from Japan, and JTBC from South Korea.

This is a wrap of the previous round that involves Catcha Group founder, EMC and Sky. The raised funding has reached up to $50 million or around 699.5 billion Rupiah. MNC has announced to involve in this round since last June.

"This is a clear affirmation on iflix business model and its potential growth, also to tighten up the connection with some of Asia's best local content providers. We have some new strong content and enthusiast in making an extensive offer for all iflix users in Asia," iflix's Co-Founder & Chairman, Patrick Grove said.

Looking into the release we've received, iflix has reached over 17 million users. The service is currently available around several countries in Asia. Through this funding, iflix is to focus on making an aggressive improvement, both in the current market and future destinations.

–Original article is in Indonesian, translated by Kristin Siagian