<article>Malaysia-based video streaming startup iflix has raised a significant strategic investment from Japanese entertainment conglomerate Yoshimoto Kogyo, it said in an announcement on Monday.</article>

Malaysia-based video streaming startup iflix has raised a significant strategic investment from Japanese entertainment conglomerate Yoshimoto Kogyo, it said in an announcement on Monday.
No financial details were disclosed. The deal marks Yoshimoto Group&#8217;s first overseas investment in a media company.
In a statement, the Japanese company&#8217;s vice president Hideaki Shimizu said the investment in iflix marked &#8220;a big step for Yoshimoto Kogyo&#8217;s Asian strategy&#8221;.
iflix and Yoshimoto Group have also formed an exclusive joint venture out of Singapore to showcase the latter&#8217;s content across the former&#8217;s markets in Asia, the Middle East and North Africa. In return, iflix&#8217;s content will be distributed in Japan.
The joint venture will also produce localised versions of proven content formats out of Japan to expand iflix&#8217;s original content offering.
“We have an incredible opportunity to deliver a uniquely localized product for iflix audiences based on proven Japanese comedy formats with mass appeal through this joint venture. Yoshimoto Kogyo has set the standard for popular, culture-defining millennial comedy content,&#8221; said iflix co-founder and group CEO Mark Britt.
iflix is said to be <a href="https://www.dealstreetasia.com/stories/malaysia-iflix-asx-ipo-119645/">preparing for a listing on the Australian Securities Exchange</a> that could value the company at more than $1 billion. The startup has declined to comment on its IPO plans.
Britt had earlier told DEALSTREETASIA that the startup will look to raise <a href="https://www.dealstreetasia.com/stories/iflix-funding-ipo-101384/">at least two more financing rounds</a> before considering going public. iflix last raised $133 million in September 2017 in a round led by US-based Hearst Communications and Singapore-based EDBI as well as clients of DBS Private Bank.
Last December, it <a href="https://www.dealstreetasia.com/stories/netflix-rival-iflix-sells-african-business-to-local-partner-econet-global-limited-114946/">pulled out of Africa</a> after selling its business in the region to telco group Econet Global for an undisclosed amount. The company had then said that it had decided to sharpen its focus on its core markets in Asia.
Founded in 2014 by Britt and Catcha Group CEO Patrick Grove, iflix claims to have 15 million subscribers across Malaysia, Indonesia, the Philippines, Thailand, Brunei, Sri Lanka, Pakistan, Myanmar, Vietnam, the Maldives, Kuwait, Bahrain, Saudi Arabia, Jordan, Iraq, Lebanon, Egypt, Sudan, Cambodia, Nigeria, Nepal, Bangladesh and Morocco.
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<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/malaysia-iflix-asx-ipo-119645/">Video streaming startup iflix said to mull ASX listing, seek over $1b valuation</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/netflix-rival-iflix-sells-african-business-to-local-partner-econet-global-limited-114946/">Netflix rival iflix sells African business to local partner Econet Global Limited</a>

The deal marks Yoshimoto Group's first overseas investment in a media company.

Malaysia-based iflix snags funding from Japanese conglomerate

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Malaysia-based iflix snags funding from Japanese conglomerate

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