Singapore and Mumbai-based Shotformats Digital has secured Series A funding from PE firm Matrix Partners. Shotformats Digital is a digital distribution and new media company that runs multiple mobile and internet consumer products under its flagship brand Biscoot.
Shotformats has provided solutions for media houses, telcos and app developers. Under its brand Biscoot it has various products like movies (Biscoot Talkies), music (Biscoot Bajao), infotainment (Biscoot B-Now), apps (Biscoot App Bazaar), and pre-paid payment mechanism (Biscoot Batua).
It was founded by Niyati Shah and Rachna Puri in 2007. Niyati, founder and CEO, was working as the head of entertainment at Yahoo India prior to starting Biscoot. Before that she worked at Sify as the business head for Sify Max; Zee Telefilms as head of marketing and programming; Universal Music India as head of marketing and Tips Industries as manager marketing for non-films.
Rachna (director - sales) previously worked at Stepz Human Resources as the executive director.
"We serve movies, music, games and apps under the Biscoot brand name to the mobile consumer through both online and offline channels across regions and languages. By the end of this year, we will be present across 10,000 retailers and are targeting 1 million monthly users with our online products," said Niyati.
"Mobile-first products and services are an important franchise area for Matrix Partners India. We want to work with entrepreneurs who are creating mobile-first companies by using disruptive business models," said Vikram Vaidyanathan, director, Matrix India.
(Edited by Joby Puthuparampil Johnson)