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From our sister site ContentSutra: Indian DVD rental company Seventymm (possibly the first such service there) has secured $7 million in funding, from Matrix Partners India. India’s Netflix – Seventymm – is planning a network expansion across major metros.
This is the second round of investments in Seventymm. U.S. venture fund DFJ had invested about $2 million in the company in 2005. It has so far raised $10 million. The company is targeting a customer-base of one million and a turnover of $100 million in the next five years. It currently has 7,500 customers in Bangalore with a library of more than 10,000 movies.