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Aeon scouts for investors to scale up its interactive TV service

MUMBAI: Aeon Communication, a multiplay broadband technology company owned by Navi Mumbai‐based Aeon Group, plans to raise $3-5 million for commercial deployment of its interactive television application, a top company official has said.

The proceeds will be deployed to initiate installation of home gateways at consumer households like a cable set-top box (STB) over the next one year, Aeon Communication co‐founder Dr Atul Naik said.

The STB developed by Aeon doubles up as a WiFi router, surround sound console, an entry level PC that facilitates digital governance, local T-commerce, T-banking and interactive education at the comfort of one’s home.

The overall funding requirement for the expansion could be as high as $15-20 million. However, the company intends to raise capital in small tranches.

A household consumer can use the home gateway as a low-cost computing device for basic computing needs and consumption of various services.

“With the government mandating digitalisation of cable TV, every household would have a STB. India has about 225 million cable & satellite households and about 60 million boxes are deployed till date. The demand is huge and expansion will directly depend upon the quantum of funds deployed,” Naik said.

Aeon has established business partners’ ecosystem of cable TV operators, content suppliers, educational and financial Institutions and banks for their respective services to be made available on the Aeon platform. The revenue generated through the services would be shared with the service providers.