NITV Raises 9.35 million Yen from TNMG & Individual Investors – NEW IT VENTURE

Press Release

NITV Raises 9.35 million Yen from TNMG & Individual Investors

Tuesday April 15, 2008

New IT Venture Corporation (NITV) Japan based technology startup today announced a 9.35 million Yen seed round lead by The New Media Group (TNMG) and individual investors Shankar Man Shrestha, Dinesh Manandhar, Rajan Pradhanang, Kumar Basnet, Chiranjibi Thapa & Bishnu Gautam. Existing investor and founder Kamal Adhikari, have also joined in on the round.

Under separate agreement, NITV buy the sub-distribution rights for Indian and International TV Package to bundle with its already owned contents to sell over South Asian Community in Japan, Korea and Australia. Also, Indians Channels from TNMG shall be bundled with NITV operated Nepalese Package for global Nepalese expats.
If you are interested to know more about company, we invite you to visit corporate website ,
www.newitventure.com

About New IT Venture K.K.

NITV is a next generation OTT IPTV & Cloud Video Platform Company that has developed a Complete Video Streaming IPTV Solution for Broadcasters, Telcos, ISPs, Hospitality Services & Content Distributors. NITV has partnered with the world’s leading media and technology companies, NITV owns and operates different community based OTT IPTV Platforms and self IPTV Head-end. Founded by executives in the media, technology, and financial communities, NITV is headquartered in Tokyo, Japan, and maintains network operations facilities in Japan, USA, Singapore, Australia, and Europe, and a development center in Kathmandu Nepal. The team at NITV invites everyone to visit www.NewITVenture.Com to learn more about what the company is doing. We accept communication in Japanese, English, Nepalese, Hindi and Urdu.

About The New Media Group, K.K.

TNMG is the leading digital media platform operator in the Asia Pacific region. Partnered with the world’s leading media and technology companies, TNMG owns and operates World On-Demand (the region’s most comprehensive IPTV platform) and MY-World Communities (a leading portal for the advanced formation and management of online communities and their personal media). TNMG also owns Media Pay, an electronic payments gateway for East Asia that utilizes every electronic wallet and conventional payment method available in those markets from minor branded affinity cards to cash collection at over 45,000 distribution points. TNMG is headquartered in Tokyo, Japan.

Press Contact:

Japan +81-3-5650-5430 press@newitventure.com

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JAPAN
NEW IT VENTURE CORPORATION
Kopo Yamato Bldg 2F, Tateishi 5-24-8
Katsushika-Ku, Tokyo 124-0012
NEPAL
NEW IT VENTURE CORPORATION LIMITED
Kapan Marg House number 151
Basbari, Near Thai Embassy, Kathmandu, Nepal
INDIA
NEW IT VENTURE (INDIA) PVT. LTD.
C9/9401,Vasant Kunj
New Delhi 110 070, India