Zee Entertainment Enterprises Ltd has invested Rs 522 crore in tech startup Margo Networks Pvt Limited, (SugarBox), building on its streaming and ad-tech services. ZEE owns 80 per cent stake in SugarBox and the additional investment will be used for operational and financial support.
SugarBox enables internet services to work in areas of bad or no network, helping users access them without an active data connection. It creates a hyperlocal data distribution ecosystem by installing CDN Edge servers at key places of interest (POIs), which users can connect to over a local wifi network. SugarBox POIs include public transport, public places, rural areas, hotels, co-living spaces and malls where a large mass of users access a host of digital services.
Using the SugarBox platform, a user can stream and download videos, listen to music, play games, learn on-the-go, pay bills and access other such online services without dependence on cellular data or even the need of an internet connection.
This investment has been made to exploit strong synergies of the technology developed by SugarBox with the current businesses of the company with a potential to significantly augment digital content consumption, ZEE said in a statement. With this investment, ZEEL will be able to enhance its growth in the digital ecosystem, expanding its presence beyond OTT (over-the-top streaming) where it has a presence with ZEE5 and ad tech, it added.
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