A Singapore-based startup accelerator, Apple Seed has committed to lead seed investment of S$0.5 million into Malaysian Internet TV platform, Teeb TV.
In a statement, Apple Seed said that this round of financing will be primarily used to strengthen Teeb TV content, bring in team members, enhance online presence and establish a regional office in Singapore to accelerate market expansion and build relations with other media platforms.
“Teeb TV will focus in enhancing its presence and momentum in the Indonesian indie film and short films. The company will work closely with film festival organizers, film schools and other media platform operators in Singapore and Indonesia,”
Apple Seed is a Singapore based venture accelerator incubating Asian based startups with go-to-market, and fund raising. Founded by Kumaran Pillai, the accelerator works closely with MDEC in Cyberjaya and Spring Singapore.
Teeb TV offers a minimum subscription for featured independent films with free access to short films, animations, music videos and TV programs. 70% of the contents are originated from Indonesia, 20% from Malaysia and 5% from the rest of the world.
The online streaming TV was originally setup last June 2014, co-founded by Wan Azuan and Ungku Azmer. They aim to provide a fair viewing opportunity for raw and fresh independent filmmakers and musicians in Southeast Asia.
Teeb TV targets independent films and music producer, film festivals, film schools and local communities, offering a globally accessible platform. Currently, it is working with major international brands, including telco companies and smart tv manufacturers.
Wan said Teeb TV has differentiated itself from other online streaming TV in the market and it has a huge potential in offering alternative contents.
“Normally, media companies shy away from this niche market, although Asian are not short of raw talents and alternative contents.
“We believe that Teeb TV will continue to be significant. We will work with Apple Seed to improve relationships with content owners and media platform providers around Southeast Asia,” said Wan.