Iroko Partners Raises $2 Million From Swedish VC Firm
Just about three months after it raised an $8 million investment round, Iroko Partners, a digital media and entertainment company and the world’s largest digital distributor of Nollywood movie content has just raised another round of funding.
When I got the scoop a few weeks ago, I tried reaching out to Iroko Partners, although the company confirmed the new round, it wouldn’t comment on any other details.
Just a few minutes ago, Reuters reported that the company has raised its latest funding round of $2 million from Sweden’s Kinnevik, an investor in Groupon, Rocket Internet, Amazon and Nigeria’s e-Motion Advertising, owners of Dealdey.
Iroko Partners is reportedly planning to take the Nollywood movie streaming service to cable and satellite TV partners in the U.S. and Europe.
The company launched its subscription service, iROKOtv+ about two weeks ago and has signed up just about 5,000 paying subscribers, according to Njoku.
The service currently has about 560,000 registered users since launch last December.