Mercatus invests in India’s PurpleStream Convergence
PurpleStream Convergence, a Chennai-based video streaming services provider, has raised funding from Mercatus Capital and content producer Hub Media.
This round of funding will be primarily used for executing PurpleStream's product commercialization. The company is currently developing new products which will enable live broadcasting over broadband. It has also decided to shift its headquarters from India to Singapore for the global launch of PurpleCloud, the firm's broadband video delivery platform.
"Singapore has become a major hub for media, and with our headquarters shifted to Singapore, we will have better access to global clients. Moreover, Singapore serves as a gateway to the huge market in China," said Karthik Subramanian, founder and CEO of PurpleStream.
Mercatus Capital, a Singapore-based seed-stage investor, incubator and business accelerator, has around 40 portfolio companies in industries like healthcare, ICT, social media and material sciences.
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