KUALA LUMPUR: Malaysia’s iflix has raised US$133 million (RM569 million) in its latest funding round led by US diversified media, information and services company Hearst, bringing the total investments to-date in the video-on-demand service to US$303 million (RM1.29 billion).

New investors in this round of funding included Singapore-based EDBI and clients of DBS private bank, iflix said in a statement. Existing shareholders Evolution Media, Sky PLC , Catcha Group, Liberty Global, Jungle Ventures and PLDT Inc increased their investments.

Iflix, Southeast Asia’s equivalent of Netflix, was launched in May 2015. The service has been rolled out in 19 markets around Asia, Middle East and Africa.

“These new funds will allow us to further execute on our local content strategy and expand our technology and development teams so we can continue to rapidly evolve the iflix service to meet the unique challenges of emerging markets,” iflix co-founder and group CEO Mark Britt said.

Iflix is a subsidiary of Kuala Lumpur-headquartered internet company Catcha Group.