NEW DELHI: Delhi- and New York-based, FLYX, a first-of-its-kind social network platform for OTT content, announced that it has raised a pre-seed funding amounting to $200K by HNIs. The company will use the funds to accelerate product development and further expand services in India.
Founded by seasoned technologists Shashank and Mayank, FLYX is a streaming social network that helps users find recommended content to watch, on the back of a unique algorithm that aggregates reviews from friends, family and contacts across all major streaming platforms. The app is available for free download on both iOS and Android stores, and works across all streaming platforms such as Netflix, Amazon Prime, Hotstar, Hulu, Google Play among others.
The value that FLYX provides is reducing time in decision making, and being able to find positive reviews from your social network, aligned to personal taste. Just by logging in, users can see what their contacts have recommended, and make informed choices. Users can also create a unified cross-platform watch-list, and keep track of shows watched in a private “seen list.” The platform lets them cross-post on social media platforms including Instagram and Snapchat. An interactive platform, where users can engage with their followers through the private or group chat feature – FLYX also enables watching trailers, and exchanging notes and comments with followers about new and upcoming releases.
“It’s fantastic to have the support of our investors as we look to grow and scale FLYX in India. We have seen encouraging growth over the last few months, and we consider this to be the right time to scale our operations, and to strengthen our position as the one-stop-shop for reviews, feedback and updates for all entertainment across major streaming platforms in India. Our immediate plan is to enhance our technology, add more streaming platforms and social networking platforms, to provide users a more comprehensive experience. We are thankful to our investors for the opportunity to tap into their capital, knowledge and network,” said FLYX CEO and co-founder Shashank Singh.
“Shashank and Mayank are two of the most impressive entrepreneurs and technologists I've come across. Their ability to identify a need in the marketplace and quickly adapt to consumers needs positions them beautifully in this constantly changing marketplace. With content consumption at an all time high, the need for a utility like FLYX is undeniable and I am supremely confident that Shashank and Mayank are the right founders to scale this business and take it to the next level,” said AIT Global Inc investor chairman and founder Raj Mishra.
Key features
What to watch: Use FLYX to know what friends and family are recommending and let them know what your favorites are.
Discover trending and search: Be updated with what movies and shows are trending across various platforms. No need to Google anymore.
Where to watch: Once you know what to watch, FLYX will help you know where to watch. The platform is linked to 100+ streaming providers including Netflix, Amazon Prime, Disney Plus, Hulu, iTunes, Quibi, Apple TV+, HBO, Google Play, Fandango, CBS, NBC, and many more.
Create fun stories: Users can create new kinds of stories available only on FLYX. Stories can be about your favorite shows or you can ask questions, or let your friends know what you are watching. Post these fun stories to your Instagram and Snapchat too.
Watch trailers: One central place to see all trailers in a fun way and share trailers with your friends and also post on your social networks.
Unified watch-list across platforms: FLYX you can create your watchlist on the go and add movies and shows in one central place regardless of where they are available.
KPMG in its latest report, ‘Unravelling the digital video consumer’ estimated that India will have more than 500 million online video subscribers by FY 2023. This would make it the second-biggest market in the world after China. The report also highlights that Indians continue to love their movies and movie related content. Original content is also emerging in a big way with a reasonable preference by respondents as compared to the supply of original content on platforms currently.
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