Amar Chitra Katha Pvt Ltd has raised GBP 4 million (around Rs. 27.4 crore or $5.9 million) from investors including Elephant Capital. Elephant Capital is investing, for a “significant minority stake”, GBP 3.2 million ($4.7 million) through its Maurutian subsidiary Tusk Investments Fund 1, another GBP 0.5 million through a co-investment vehicle, and Gaurav Burman, MD of Elephant Capital, will make an additional, personal investment of GBP 0.3 million.
Elephant Capital will appoint two directors to the board of ACK, Gaurav Burman and Amit Jain, representing one third of the board seats. In the digital space, Elephant Capital had previously invested in Global Cricket Ventures.
Now this is just a part of the overall funding that ACK plans to raise – speaking with MediaNama last month ACK Media COO Ashish Goel had said that the company is looking to raise over Rs. 100 crore. Interesting to note the change in the name of the entity – Amar Chitra Katha Pvt Ltd, instead of ACK Media.
Founded in 2007, ACK has a catalogue of over 500 print and 100 digital products, and 25 proprietary characters, with brands including “Amar Chitra Katha”, which has around 450 titles; “Tinkle”, a children’s magazine with 500 issues and a circulation of around 125,000 per month; Karadi Tales, an acquisition in the audio and video content for pre-school children space, with over 50 titles. ACK has been looking to expand its content to TV, Film, Home Video,Merchandise and school programmes, and has studios in Mumbai, Bangalore, and Chennai that develop new content. Animated series of Amar Chitra Katha and Karadi Tales recently launched on Cartoon Network India and Disney Channel India respectively, and two animated films, again with Cartoon Network India already in the pipeline.
In May 2010, ACK announced the acquisition of India Book House (IBH), India’s largest books and magazine distributor, which gives it a distribution network covering direct to consumer channels and the indirect channel including four key sectors: books / video stores (1000+), magazine vendors (10,000+), school book stores (50,000+) and stationary stores (65,000+).