Indiantelevision.com's > Digital Edge> 2D animation firm SideFX raises Rs 55 mn from PE firm

Indiantelevision.com's Digital Edge

2D animation firm SideFX raises Rs 55 mn from PE firm

Indiantelevision.com Team

(10 August 2012 6:07 pm)

MUMBAI: Pune-based 2D animation production company SideFX Entertainment has raised an undisclosed sum from US-based Das Star Ventures. Candle Acendo were the exclusive financial advisors to the transaction.

While the investment amount was not revealed by SideFX or Das Star Ventures, the figure floating around is Rs 55 million.

With this new investment backing, SideFX plans to augment its hi-tech, 2D animation production capacity, targeting lucrative markets worldwide for animated TV and Film content.

SideFX Entertainment Founder and CEO Amit Rathor said, “We are delighted to receive investments from Das Star Ventures. With our world-class competency and expertise in the 2D animation category, the investment from Das Star Ventures will further strengthen our global footprint and provide top-notch service to the client.”

He added, “This transaction is unique for it being the only VC investment in the organized 2D animation sector in recent years.

Das Star Ventures Founder and CEO Durga Das said, “We at Das Star Ventures are very specific in selecting our portfolio companies, partnering only with those who show the highest standards of excellence and potential. SideFX is without a doubt among our most promising ventures. We are very excited to work with such talented people in the exploding 2D animation industry.”