Tinselvision, an online video-on-demand service targeting South Asian communities in the US, UK and Canada which closed about $6 million in funding last year, has closed down, we have learned and confirmed. The company, based in Washington DC,  has one investor: Innovative Entertainment Limited, a Geneva based subsidiary of Innovate Energy Group, and did two round of $3 million each, and boldly claimed that it had a “pre-launch, post-money valuation at nearly $20 million”. They had struck online distribution deals for television content with STAR TV, Zee TV, Zoom TV (BCCL group co) and Bollywood film content from Yash Raj Films, but the market conditions and some troubles with its investor led to the closure of the company in September this year, our sources say.

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The company also tried to expand into India, but of course the competition there is tough, and online audience is still small.