Washington - TinselVision, a broadband video-on-demand service that delivers Indian TV and Bollywood films overseas, announced that it has raised more than $3 million in its second round of venture capital financing, led by Innovative Entertainment Limited.

Washington and Mumbai-based TinselVision plans to launch its service yet this month, which will deliver content to the estimated 40 million persons of Indian origin living overseas.

The company recently signed new content licensing deals with STAR TV, Zee TV, Yash Raj Films and Zoom TV, and plans to disclose new deals for collapsed film releases, cricket licensing, and exclusive IPTV rights.

While TinselVision said it is already in discussions for its third round of financing, the company will use proceeds from its second round to extend its investments in grassroots community and online viral marketing, in addition to key hires in senior management, content acquisition, advertising sales and extensible distribution.

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