Technology

Times Group invests $4 mn in Instamedia

MUMBAI: Times Internet Ltd, a subsidiary of The Times of India Group, has invested $4 million in Instamedia Network, the content network and creator of Software as a Service (SaaS) based content platform, Instapress.


Instamedia Network has secured the funds as a part of its Series-A funding.


Instamedia will use the funds to grow the company‘s network of writers and accelerate its technology platform development. It also plans to launch local sites, targeting the European and US audiences, which already drive over 60 per cent of their traffic.
 
"We are excited at the opportunity to help new, emerging media companies develop their businesses and grow the space. The entire Instamedia team has amazed us with their drive, creativity, and clarity, and we are confident that they will continue to create a large presence in the digital content ecosystem globally," said Times of India Group director of business development Satyan Gajwani.


Instamedia runs fast growing Internet sites in verticals like lifestyle, green living and technology. Its citizen journalism platform Instablogs has over four million monthly unique visitors. “Together, these fifteen sites drive an affluent and passionate community and offer advertisers a great way to connect with their audience,” the company said. 
 
The company is also launching its fully hosted content solution, called Instapress Content Server (ICS), which will allow other media networks to use the technology to drive greater RoI and performance from existing content production teams.


"The Times Group will be a great long-term, strategic partner. They understand this space very well and bring a lot of experience and expertise to the table. We are also honored to have Gajwani join our board. It will be a challenge for us to meet his energy and passion," said Instamedia Network co-founder and CEO Ankit Maheshwari.


Instamedia has recently opened its second office in Noida as they scale up operations.

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