Orange Digital Ventures invests in SVoD service Afrostream
Orange Digital Ventures has invested in Afrostream, the African SVoD service founded by producer Tonjé Bakang that aims to bring Afro-American, African-Caribbean and French films to a wider audience, which launched in September in France, Belgium Luxembourg, Switzerland, Senegal and Côte d’Ivoire.
Orange said its latest funding, alongside support from The Family, Cross Culture Ventures I and ACE & Company would enable Afrostream to accelerate the development of its service in Europe, Africa, the Caribbean and South America.
Orange said that, in addition to financial support, it would provide its expertise in networks, distribution and payment to Afrostream. It has previously secured support from Orange Fab France and US seed fund Y Combinator.
Pierre Louette, deputy CEO of Orange and president of Orange Digital Ventures, said: “This investment is part of ODV’s ambition to finance services that are able to address different geographical areas in which Orange is present. It will enable us to develop the video-on-demand market, particularly in Africa. It will also enable us to enrich the content we already offer to our customers in France, as Afrostream should be launched on Orange TV by next summer.”
Tonjé Bakang, CEO of Afrostream, said: “The future of television is mobile. With this strategic investment by Orange, Afrostream now brings together the best of the mobile internet and the best of African content. This new alliance will enable us to revolutionise the entertainment industry and to reach all audiences.”
Orange PR, 8 Oct. 2015.