Digital video network Culture Machine has raised $18 million in a series B round of funding from Tiger Global Management and existing investors Times Internet and Zodius Capital, reports the Economic Times. The company will be using the funds to invest in technology and content.
Culture Machine had previously raised an undisclosed amount of funding led by Zodius Capital in September last year. The company had said then that it would use the funding to expand internationally and to further build out its intelligence platform, which it claims is its key differentiator.
Culture Machine currently claims to be the largest creator network in India, with a network of 400 content creators across music, comedy and beauty. It had set up a 6000 square feet production facility in Mumbai, and has another in Chennai. Its network includes channels such as BeingIndian, Shruti Anand, Sonal Sagarya, Elton Fernandz and Bollywood Gandu, as well as media brands like Fox Star Studios, CMajor, Earth Three Media, Comedy Time, The Times of India and Bombay Times.
Culture Machine also has a proprietary technology media platform to analyse trending content and advise creators and brands on what kind of content to create, when. Apart from this, it has a YouTube certified team for audience development, analytics, marketing and PR team to help creators, brands and media companies reach out to their audiences at scale. The company also aggregates content, and it has its own channels as well.
In October last year, Culture Machine had tied-up with US-based network What’s Trending to adapt the format and launch an Indian version. It earlier also had a YouTube content deal with YouTube India music star Shraddha Sharma (details here).
Recent developments in the YouTube MCN space
– The same month, #fame (earlier Famebox Networks) had raised $10 million in a second round of funding from TO THE NEW Ventures (TTN Ventures), after having raised $3 million in funding from TTN Ventures, back when it began operations in beta in early 2014.
– Disney owned Maker Studios, possibly one of the largest YouTube MCNs worldwide, entered India by signing up Indian YouTube channels like All India Bakchod, East India Comedy and Kanan Gill among others, while another large YouTube MCN FullScreen had partnered Qyuki to expand into India.