NetMedia India chief executive Sukaran Singh confirmed that several VCs have approached the company for financing in the second. Without giving details, he said that the company was expected to finalise the second round of funding by August this year.

The $65 million International venture fund Chrysalis has already committed around Rs 8 crore of funding to the broadband project. The Saurabh Srivastava-backed Infinity fund already has a sizeable stake in the venture. The site, launched in September 1999, offers an array of streaming audio, video content in diverse areas including news, entertainment, sports and travels. The India-related multimedia content is targeted essentially at the Indian diaspora.

BroadcastIndia has just entered into a tie-up with Bangalore-based Cyber Media Online Limited (CIOL) for broadband content related to technology. As per agreement Broadcastindia will source its content for its technology page from CIOL. According to CIOL president E Abraham Mathew this exclusive tie-up will add value to CIOL's content through streaming audio/video capabilities.

Broadcastindia has already entered into a series of tie-ups with content providers including television software producers, films, newspapers, magazines and web portals. The company is also scouting for co-branding partnerships.

According to Singh, in an effort to be a one-stop shop for broadband content, Broadcastindia has entered into over 30 tie-ups with leading brands in the last six months. The company is also looking at forging alliances with broadband cable players to deliver Internet through cable.

Talks in this regard are on with several players, Singh said. The company is taking to webcasting of events in a big way. Radio over Internet is another area the company is seriously looking into. Alliance with private FM radio players is in the offing, company executives indicated.

Singh said as a content aggregator, technology and content would be the main revenue-earners for the company. The company will actively partner with traditional and new media companies to deliver rich content over the Internet, Singh said.

CIOL looking for Rs 7 cr
Bangalore-based Cyber Media Online Limited (CIOL) plans to raise around Rs 7 crore through venture finance funding over the next three months to further e-commerce enable its web portal. The company plans to put in place a payment platform and a cybermall on its portal to sell infotech and IT-related products online. Intel Corporation is already one of strategic investors in CIOL. Confirming that the company plans to go for second round of venture funding, CIOL president E Abraham Mathew said the portal was already e-commerce enabled. He said the additional funds will be used to set up a online payment platform and put in place a cybermall for selling IT-related products and services. The portal is already into selling CDs, books and information-related to IT jobs.