German investment firm Bertelsmann Digital Media Investments (BDMI) has taken part in a $6 million funding round for New York-based startup Dramafever.com, along with media heavyweights AMC Networks and NALA Investments.
Dramafever is an online video platform showing HD content from around the world translated for an English audience. Founded in 2009, its founders are seeking to grow on a global scale and so felt that an internationally diverse group of investors was an important step.
Co-founder Seung Bak said the deal would create a mutually beneficial relationship for the startup and its investors: “DramaFever is enabling foreign content creators to cross borders and more easily identify new North American markets for their programming where consumer interest is strong and more likely to add revenue, and it’s not hard to imagine what’s coming soon.”
Currently only available in North and South America, Dramafever hopes to announce plans for internationalisation in the next twelve months.
The deal is an interesting one at a time when increasing amounts of investment money are flowing from the US into Germany and Berlin in particular. BDMI are also involved in the local scene here in the German capital, hosting the Seedcamp event last month.