Lytus Technologies Holding PTV. Ltd. Announces Successful Closing of $3.3 Million Funding Round

Lytus Technologies Holdings PTV. Ltd, a platform technology services company with nearly eight million users and with operations in the United States and India, announced today that it closed on a funding round with an institutional investor involving the issuance of notes and warrants, resulting in gross proceeds of $3 million.

Lytus Technologies Holdings PTV. Ltd. provides content streaming/telecasting services to users in India. The company operates through two segments, cable business and telemedicine services.  The company offers subscription-based video services and internet services to customers throughout India comprising 450 linear channels, as well as educational channels customized for local educational boards for schools.

“We have been incredibly fortunate to work with some of the most dynamic treasury teams and underwriters” said Dharmesh Pandya Founder and CEO of Lytus Technologies.  “This successful round of fundraising, on the heels of our successful IPO earlier this year, substantiates the faith that investors have in our business model.  With this additional infusion of funds into the business, over the next several months Lytus will be able to upgrade the technology services for its streaming and telemedicine businesses whilst expanding its customer base.”

Marketing Technology News: MarTech Interview with Reeve Collins, Co-Founder at SmartMedia Technologies (SMT)

Spartan Capital Securities, LLC acted as exclusive placement agent for the offering.

 The notes and warrants described above were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Act”), and Regulation D promulgated thereunder and, along with the common shares underlying the notes and warrants, have not been registered under the Act, or applicable state securities laws. Accordingly, the notes, warrants and underlying common stock may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Act and such applicable state securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

Marketing Technology News: Show Me the Money: Finding the Value in Mobile Messaging