After the Bangalore-based Seventymm.com, another online DVD rental company, this time in the nation’s capital, gets venture funding. Delhi-based Madhouse Media has closed an angel round of $228,000 (Rs. 1.05 crore) from Band of Angels in Delhi and Mumbai, and other couple of investors.
First-time entrepreneurs Sameer Guglani, Nandini Hirianniah and Ankur Agrawal founded the company in December 2004. Madhouse has both online and offline presence and it claims to be the only one to have such a model. The company is currently focused on North Indian markets – Delhi-NCR, Chandigarh, Panchkula and Mohali regions. It plans to do a national roll-out in the next two years.
It is currently working on some key business alliances to serve the customers better; one such alliance being with Netkode Solutions, which provides end to end technology solution to Hollywoodclicks.com, Singapore’s largest online DVD rental service. Netkode will work as a technology partner with Madhouse.
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