Targeted television advertising and cloud-based broadcast infrastructure provider Amagi has raised $35 million in fresh funding led by Emerald Media along with participation from Premji Invest, the family office of Wipro chairman Azim Premji.
Amagi has become one of the largest television advertising networks in India, handling over a million ad seconds every month. The firm has developed proprietary technology for geotagging television ads that are then played out in specific cities or localities.
The raised capital will be utilised to expand the targeted advertising platform globally and also enter new international markets for its cloud-based managed broadcast service. The latter will allow television broadcasters that Amagi has signed up, serve their customers in more global locations.
"Emerald Media, has a strong understanding of the TV Broadcast industry and the OTT space. 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," said Baskar Subramanian, co-founder of Amagi, in a statement.
Amagi had raised $25 million in its previous funding round from Premji Invest, Mayfield India and Nadathur Holdings, the latter two companies will continue to hold stake in the company. Emerald Media is backed by global investment major KKR for funding in the media and entertainment space.
