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Amagi raises $35 mn from KKR-backed Emerald Media and Premji Invest
MUMBAI: Emerald Media, the pan-Asia company backed by leading global investment firm KKR for investing in the media and entertainment sector, has acquired a significant minority stake in Amagi Media Labs (Amagi), the leader in targeted TV advertising and cloud-based TV broadcast infrastructure.
This is the second major investment by Emerald Media in Indian media and entertainment in 2016. Earlier, it had acquired a significant minority stake in over the top (OTT) platform YuppTV for $50 million.
Amagi’s existing shareholder Premji Invest, the investment arm of Azim Premji, is also participating in this combination of primary and secondary $35 million series D round. Mayfield India and Nadathur Holdings will continue to remain invested in the company.
Headquartered in Bengaluru with offices in New York City, London and Hong Kong, Amagi is a next-generation media technology company providing cloud-based managed broadcast services and targeted advertising platforms to customers, worldwide.
Amagi enables TV networks to create a complete broadcast workflow on the cloud and deliver content over satellite, cable, IPTV or OTT platforms. Using Amagi’s patented technologies, advertisers can target audiences at a regional level across traditional TV and OTT multiscreen platforms.
Amagi has today scaled up to be one of India’s largest TV ad networks, playing around a million ad seconds every month on premium TV channels. With numerous installations of Amagi’s playout and edge insertion servers around the world, they are already a global force in the broadcasting technology domain.
Amagi has deployments in over 30 countries for leading TV networks and is India’s largest TV ad network supporting more than 3,000 brands.
The growth capital from this round of funding will enable Amagi to expand its targeted advertising platforms globally, enter new international markets for its cloud-based managed broadcast services, and introduce a host of products to cater to the various needs of TV broadcasters and OTT networks.
Amagi co-founder Baskar Subramanian said, “Emerald Media has a strong understanding of the TV broadcast industry and the OTT space and we are very happy to partner with them. Their domain expertise and regional and global media relationships will help us further leverage the transition of the TV broadcasting industry to the cloud and expand our international footprint.”
Emerald Media MD Rajesh Kamat said, “Amagi has harnessed the transformative power of technology (both hardware and software) to change the way TV networks and brands perceive content delivery and monetisation. Their cutting-edge technology is disruptive and the need of the hour. Emerald Media will assist Amagi in driving this change in the broadcast and digital industry by providing a distinctive combination of capital, domain knowledge and management bandwidth.”
Prior to this round, Amagi had raised $25 million from Premji Invest, Mayfield India and Nadathur Holdings.