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Amagi Media raises capital from Premji Invest, Mayfield Fund

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MUMBAI: Advertising network Amagi Media Labs has raised its next round of investment from Premji Invest, the family office of Wipro?s chairman, Azim Premji and a continuing investment from Mayfield Fund.

The funds raised from this round will be used to bolster the company?s growth plans both in India and globally. In India, the funds will be primarily used for expanding its geo-targeting network including addition of new channels to its bouquet.

Having recently opened an office in Japan, Amagi also intends to use these funds to set up local offices in UK, Singapore and the US to expand its growing client base for its broadcast technology platform.

Amagi Media co-founder Baskar Subramanian said, ?At this stage in our development, it is critical that we get the right investors on board whose vision matches ours and in this respect we are extremely pleased to have Premji Invest associate with us. This investment also reconfirms Mayfield Fund?s continuing confidence in our execution and growth. With over 300 per cent growth in revenues from last year, we have become the de facto choice for brands in their pursuit for effective advertising.?

As a highly diverse market with varied culture, languages, food habits and purchasing parities, India poses a unique marketing challenge. Addressing this need is Amagi?s USP. National and regional brands use Amagi?s platform to target their advertisements to specific markets or regions depending on their requirements.

Initially incubated in NSRCEL at IIM-Bangalore, Amagi Media had previously raised $12 million from Nadathur Investments and Mayfield Fund.

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