Networking technology producer Cisco and wireless technology producer Qualcomm have exited India-based mobile video delivery platform Apalya Technologies through an acquisition by digital media company Arre, the Economic Times has reported.
Founded in 2005, Apalya has developed a video delivery platform that optimises content across all screens. Arre paid between Rs 200m and Rs 250m ($3m to $3.8m) in cash for the company, sources told ET.
Qualcomm’s corporate venturing unit Qualcomm Ventures and IDG Ventures India, the local venture capital affiliate of US-based media company International Data Group, invested $3m in Apalya in 2009, the year after it raised $450,000 in seed capital from Mumbai Angels.
Apalya subsequently secured $7.5m in a 2011 series B round backed by IDG Ventures India, Qualcomm Ventures and VC firm IndoUS Venture Partners before the three were joined by Cisco for a $10m series C round two years later.