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Amagi raises funds from Premji Invest and Mayfield Fund

Ad network Amagi Media Labs has raised an undisclosed amount in funding from Premji Invest (the family office of Wipro’s chairman Azim Premji) and from Mayfield Fund. The company had previously raised Rs 30 crore from Mayfield Fund and existing investors, Nadathur Group and Ojas Ventures in July 2013, adding to the Rs 37 crore it raised from Nadathur Group and Ojas Ventures back in 2011.

Amagi will use the current fund raise to strengthen its growth both in India and internationally. In India, the company will use the funds for expanding its geo-targeting network, including adding new channels, while internationally it intends to set up local offices in the UK, US and Singapore, to expand the client base for its broadcast technology platform. Note that just last month, the company rolled out its ad monetization platform to Europe and the Middle East.

amagi

Amagi’s geo-targeted advertising platform is designed for TV broadcasters who air programmes outside the country of its origin, allowing them to replace ad breaks on satellite feeds with local ads. The company mentions that its satellite receiver can store ads and replace the watermarked ads locally based on a pre-determined playlist. The entire workflow can be managed remotely through a cloud interface.

Previously, Amagi had roped in Zee Media’s Jitesh Rajdeo as its director – sales and alliances for India and neighbouring countries, in May last year. He was responsible for managing sales and revenue from broadcasters & advertisers from India and globally. Back then, Amagi co-founder Srinivasan K.A had told Medianama that they have been exploring non-Indian territories by offering its technology as a service to broadcasters in Europe, Singapore, Africa and South America through partners.

In India, Amagi works with broadcasters like Zee Network, TV18 group and Times Group among others. It claims to have tie ups with more than 2,000 advertisers, of which prominent ones include Hindustan Unilever, PepsiCo, P&G, ICICI Bank, Shoppers Stop, Wipro, Myntra and Lenskart among others. It also claims to work with over 30 of the country’s top 50 advertisers, to target their ads to specific markets.

Other players in this segment include SureWaves that had raised Rs 35 crore from Canaan Partners & others in January last year and Rediff’s VuBites.

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    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ