Delhi Online DVD Rental Company Madhouse Gets $228,000 From Angel Investors

We had earlier written about more online DVD rental companies getting funding. It’s actually happening. Delhi-based online DVD rental company Madhouse Media has closed an angel round of $228,000 (Rs 1.05 crore) from Band of Angels in Delhi and Mumbai Angels of Mumbai, besides a few other private investors.
The company was founded in December 2004 by first-time entrepreneurs Sameer Guglani, Nandini Hirianniah and Ankur Agrawal (more about team here.)
Madhouse has both online and offline presence, and a statement from the company says that it’s 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, however, has plans to do a national roll-out in the next two years. The statement also added that it is currently working on some key business alliances to serve the customers better. One such alliance was struck recently with Netkode Solutions, which is working as a technology partner with Madhouse. (Netkode also provides end to end technology solution to Hollywoodclicks.com, Singapore

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