The Viral Fever (TVF), an over-the-top (OTT) platform which creates original video content, has raised an additional $6 million (around Rs 41 crore at current exchange rates) from existing investor Tiger Global, two persons with direct knowledge of the matter told VCCircle.
Operated by Contagious Online Media Network Pvt. Ltd, TVF raised the fresh capital at an estimated post-money valuation of around $40 million (around Rs 270 crore), one of the above-mentioned persons said on the condition of anonymity.
This is significantly lower than the valuation of $61 million that the Mumbai-based firm had received when it raised $10 million from the New York-headquartered hedge fund in February 2016, according to VCCEdge, the research arm of News Corp VCCircle.
It could not be immediately ascertained whether the latest infusion was part of a larger funding round.
TVF has thus far raised more than $20 million in external funding. This includes a $4.97 million investment from Tiger Global in July last year according to VCCEdge. VCCircle estimates indicate that this money was raised at a post-money valuation of around Rs 216 crore ($31 million at current exchange rates).