Emtek's Vidio to Raise US$100 Mln Fresh Funding

By Editorial Team 25/07/2023
video streaming platform
Summary

Emtek Group-owned video-on-demand (VoD) platform Vidio is reportedly raising US$100 million in fresh funding according to a report by DealStreetAsia on Monday, but there has been no official response from Emtek or Vidio's management up until this article was written.

On Jun 15, Emtek vice president director Sutanto Hartono said that the company would prepare a funding phase for Vidio following up the US$195 million raised at the end of 2021 until early 2022. "We are grateful that the fundraising was timely. To this day we still have the funds," he said.

According to Sutanto, Vidio is a business that is economically viable and allows Emtek to generate more profits in the future. Emtek is currently improving its own performance and tweaking Vidio's business model so that it can go public.

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