The Board of Zee Entertainment Enterprises Limited (ZEEL) has recently decided to invest Rs 5,220 million in Margo Networks (SugarBox), a tech startup. ZEEL is one of the major stakeholders in the Mumbai-based startup.
SugarBox is a unique platform that enables Internet services to work even in areas of poor network apart from empowering users to access them without an active data connection.
By installing CDN Edge servers at key places of interest, a hyperlocal data distribution ecosystem is created. Consequently, users can connect to over a local Wi-Fi network.
It is also worth mentioning that ZEEL had acquired 80% equity stake in SugarBox in 2017.
“Our investment in SugarBox, gives a strong fillip to the overall digital business, sharpening its approach by many folds,” Punit Goenka, MD and CEO, ZEEL said.
“The unique technology will enable us to serve content to consumers across the nation, without being restricted by connectivity constraints. We are confident that this synergy will create a strong foundation for us, as we progress towards offering relevant content to consumers across platforms,” Goenka added.
Using the SugarBox platform, users can stream and download videos, shop online, pay bills, order food, book tickets, listen to music, play online games, and access other digital services without cellular data.
The SugarBox platform is expected to reach around 300 million monthly unique users by mid-2022, where access to internet services is otherwise limited owing to uneven connectivity. In other words, SugarBox is making internet services more reliable and affordable, by reimagining data delivery.