India’s Hungama reportedly raising $100M

Hungama screenshotHungama, one of India’s home-grown streaming services, is looking to raise more than $100 million. The company is reportedly in negotiations with Intel Capital and Bessemer Venture Partners, both of which have been involved in previous Hungama investments. Sources told TechCrunch that the influx of capital would support technology development and content library expansion. The company may allegedly consider acquiring other similar services.

Hungama stands out in India’s streaming market for its inclusion of movies in its library. Other Indian streaming companies include Gaana and Saavn, and they were recently joined by the international Rdio and by Guvera’s mobile listening platform. There has been increased interest in making deals with Western content creators and rights holders. Hungama recently added movies from Disney and Marvel, and Saavn has licensed tunes from EMI and Warner Music.

Anna Washenko