City based 2D animation company SideFX Entertainment, on Wednesday announced that they have received an investment of Rs 5.5 crore from US based Das Star Ventures.
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. Das Star has further plans to invest over $ 7 million in other companies in verticals like solar LED, refrigeration and cloth washing.
SideFX currently produces 2D animation films and series for both Indian and uropean producers, which have included well known clients such as Reliance, LuxVide, Achtoons and Amar Chitra Katha. SideFX believes that this investment will create job opportunities in the 2D animation industry and taps latent local talent. Candle Acendo were the exclusive financial advisors to the transaction.
With this investment, SideFX will raise the bar in 2D animation production, thereby benchmarking competitors internationally. In addition, the streamlined production processes developed by SideFX will give clients its much needed creative control. SideFX has tied up with Hollywood Studios.
Also, the company is eying on Indian television market for its animated films. The company is providing IP space services to companies in Central Europe.
Amit Rathor, Founder and CEO, SideFX Entertainment, 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. This transaction is unique for it being the only VC investment in the organized 2D animation sector in recent years."
Durga Das, CEO and founder, Das Star Ventures, 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. We are confident that our association with SideFX will take the 2D animation industry by storm.”