KathaVersse Media Network, a universe and franchise-driven content IP studio committed to creating IPs with a minimum shelf life of 7 years for tier 2 and tier 3 masses, has secured seed funding of USD 400,000 led by Roshan Abbas (Founder: Encompass & Kommune | Investor Partner: Glitch & Chtrbox).
Eminent angel investors, including Gaurav Kapur, Samit Garg, Dhawal Gusain, Rajesh Rege, Sujit Jha, Nitin Madan, and WLDD (Integrated Meme & Culture Marketing Company), also participated in the investment round. Datta Dave, Partner and co-founder at Tulsea, is an esteemed advisor to the company.
Aakash Kumar (CEO) and Kshitiz Sudhakar (COO) founded KathaVersse to become India’s biggest universe and franchise-driven entertainment IP company. According to them, no other content studio in India has been able to crack the longevity of a content IP, and that’s the throne they want to capture.
Both the founders said, 'We are building Marvel for Bharat and creating a Middle-Class Universe (MCU) under which we are developing characters, franchises, and formats to build a cult fandom and maximise ROI for audience, advertisers, and OTT partners. The company aims to scale its IPs by adapting them in different formats such as Audio, Animation, Merchandise, Games and more.
With a content-centric approach, they're building AVOD and SVOD verticals for fiction and non-fiction content. They're bullish about establishing an IP-driven MCN on social platforms supported by advertisers.
According to PwC's recent report, 'Global Entertainment & Media Outlook 2023–2027: India Perspective', the revenue of the Indian video OTT market is projected to double from $1.8 billion in 2022 to $3.5 billion by 2027, with a CAGR of 14.32%. Industry experts estimate the market size for produced content in 2023 to be approximately $1.2 billion.
Lead investor Roshan Abbas expressed, "In KathaVersse, I find the stories of the new MCU (Middle-Class Universe) that encapsulate the essence of Bharat. Kshitiz and Aakash are dynamic founders with both passion and vision. At such a young age, they bring impeccable credentials and extensive experience. This is yet another stride in my constant engagement with the stories and storytellers of India."
KathaVersse's strength lies in its core team of seasoned IP creators (writers, directors, creative producers) dedicated to the company's universe-centric storytelling approach.