Amagi raises Rs 31.25 crore from Mayfield Fund

Targeted TV ad network Amagi Media Labs (Amagi) has raised Rs 31.25 crore from Mayfield Fund and its existing investor Nadathur Investments. Mayfield India's Vikram Godse would be joining the board of directors at Amagi.

Amagi had earlier raised Rs 37.5 crore from Nadathur Investments. With this new investment, Amagi has raised a total capital of Rs 69.25 crore from investors till date. The company intends to use these funds to invest in its R&D and expand its presence in India as well as international markets. Amagi was recently adjudged the second fastest growing tech company in India by Deloitte Touche Tohmatsu.

"We have grown by over 4500 per cent in the last four years and we are looking at accelerating this growth with the new investments," said Amagi co-founder S Baskar to indiantelevision.com.

The company plans to buy some exciting inventory from channels in India. Its Indian broadcast partners include Times Now, India TV, CNBC Awaz, IBN7, UTV Movies, Maa, Zoom and Udaya Movies and Udaya Music. Its DTH partner is Tata Sky.

"Internationally, Amagi is already present through partnerships and dealerships in the US, UK, Europe, South America and Singapore. We have already gone live on two television networks in Singapore. We want to expand our growth globally," added Baskar.

Amagi enables advertisers to target their spends effectively on TV. With Amagi, brands can advertise in select cities or regions on pan-India TV channels. For example, an advertiser can target only Mumbai or only Gujarat on a national TV channel at a fraction of the national rate. This is similar to 'split runs' on print media - while brand A ad runs in Gujarat, brand B can advertise in Punjab on the same channel at the same time using Amagi platform.

Source: http://cablequest.org/news/national-news/item/2615-amagi-raises-rs-31-25-crore-from-mayfield-fund.htmlSource: http://cablequest.org/news/national-news/item/2615-amagi-raises-rs-31-25-crore-from-mayfield-fund.html