Washington, Dec. 24: Indian streaming music startup Dhingana is facing an uncertain future after T-Series, its biggest music label partner, will not be renewing their licensing agreement.
T-Series president Neeraj Kalyan confirmed to TechCrunch, that the company will not renew the license set to expire for nearly 8,000 songs from Dhingana’s catalogue.
According to the report, Dhingana CEO Rohit Bhatia said any new developments will be shared this week, declining to comment on whether Dhingana will shut down.
Dhingana is among the top-funded music startups in India.
It raised seven million dollars in Series B funding in Oct er last year from Lightspeed Venture Partners, Inventus Capital Partners and Helion Venture Partners. Bhatia told Medianama that Dhingana is in the process of restructuring its operations, the report added. (ANI)