London-based PaaS company Laminar bags $5.11 mn in funding led by AIV
- ByStartupStory | May 25, 2022
Laminar, a Platform as a Service (PaaS) that allows content owners to establish OTT services, secured $5.11 million in initial investment headed by Artha India Ventures (AIV) and Leo Capital. Other investors included Garuda Ventures, Cloudcap, and Sampson Acquisitions, Inc. This increase will hasten product development and market penetration.
The London-based Laminar, founded in 2020 by Narendra Nag, Raheel Khursheed, Tirthraj Singh, Kumar Shorav, and Yin Shanyang, allows content owners to build a worldwide OTT service in 12 weeks or less. Chaupal, an Indian multi-regional OTT platform, was able to debut in 110 countries in just 12 weeks, four times quicker than the industry average.
Narendra Nag, the co-founder and CEO of Laminar said that the firm will greatly benefit from the aggregate experience of our investors in swiftly building our business and increasing our worldwide footprint. According to Nielsen’s recent State of Play study, the percentage of consumers in the US who subscribe to four or more services has more than quadrupled – a global trend. Consumers will gather around (and pay for) material that relates to their cultural reality, and this expansion will only increase.
Anirudh A Damani, the director of Artha India Ventures said that this is the company’s first substantial investment in Europe and the firm is happy it’s in Laminar. By providing the world’s first zero code cloud-based PaaS service, Laminar provides content producers with the backbone to fight Netflix and Amazon Prime’s duopoly. Furthermore, the company has a strong belief that the OTT-enabler ecosystem has enormous promise, and the firm is pleased to have sponsored the greatest team for a PaaS solution in the space.
Rajul Garg, the founding partner of Leo Capital said that media firms may see content consumption quickly transitioning away from cable, satellite, and DTH worldwide. And this work with Laminar would help in building the next worldwide leader in the media-tech field.
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