Actor Farhan Akhtar-backed film Discovery App Flickbay which is owned and operated by Trishant Sidhwani and Vishal Ramchandani, has raised $890,000 (about Rs 6 crore) in seed funding from Paul Roy, chairman of Dubai-based Riva Digital.
Founded last year by Trishant Sidhwani and Vishal Ramchandani, Flickbay provides news, trailers, songs, reviews, ratings, box office collections and information about movies playing in theatres and on TV. It claims to have recorded 70,000 downloads since its launch two weeks ago. The app is available for Android and iOS users currently.
Flickbay has been incubated under Excel Entertainment, a movie production house founded by Akhtar and Ritesh Sidhwani. Akhtar and Ritesh Sidhwani are stakeholders in the startup while Jayesh Parekh, managing partner at Jungle Ventures and co-founder of Sony Entertainment in India, is an adviser, reported VCCircle.
In October 2015, Movie-on-demand platform Muvizz.com has raised Rs 2.2 crore ($350,000) in angel funding from three Singapore-based investors.
Many celebrities from the film industry have announced their presence in Indian startup ecosystem, either as an investor or as an entrepreneur. Last week, actor and television host Rannvijay Singh invested in fashion styling app IStyleYou. In May 2015, the model-turned-actor-turned-politician and last year, Gul Panag launched a tech startup Mobiefit that develops mobile apps based on health and fitness.