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Internet TV service venture YuppTV raises $2.5M from Sashi Reddi

By Sainul K Abudheen

  • 05 Apr 2014
Internet TV service venture YuppTV raises $2.5M from Sashi Reddi

US-based Global Takeoff Inc, the company behind the internet TV service venture YuppTV, has raised $2.5 million (Rs 15 crore) in angel funding from Sashi Reddi, a serial entrepreneur and founder & chairman of Sri Capital.

Reddi has picked 10 per cent stake in the company valuing the venture at $25 million.

YuppTV was founded in 2007 by Udaynandan Reddy, who was previously a director for Nortel, where he was responsible for sales in the Caribbean. He has 14 years of experience in telecom and networking arena.

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YuppTV delivers more than 130 Indian TV channels and more than 3,000 on-demand videos, movies, TV shows and live events through multiple internet-enabled devices. It is focusing on Indian expats worldwide with its services.

Sashi Reddi is a serial entrepreneur, who sold his software testing and quality management company AppLabs to CSC in 2011. Previously, he had founded EZPower Systems, a developer of products for building and maintaining large-scale web applications, and iCoop, a group purchasing venture.

He invests $250,000-500,000 in around four startups a year. His focus areas are business services, enterprise software, IT, internet, location-based services, media and mobile. A B Tech in Computer Science from IIT Delhi, he is also the founder and chairman of FXLabs, a leading developer of game products for PCs and consoles. His portfolio companies also include Glassbeam, Oximity, Shopo.in, Edutor and Sili.

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