Mumbai: Emerald Media Advisors Pte Ltd, a pan-Asian media and entertainment investment platform, said on Thursday it has led a $35 million series D funding round in Amagi Media Labs.
Emerald Media is backed by global private equity (PE) major KKR and invests in the fast-growing media and entertainment companies in Asia.
KKR has committed up to $300 million from its KKR Asian Fund II to Emerald Media. Amagi is a media technology firm providing cloud-based managed broadcast services and targeted advertising platforms to customers worldwide.
Existing investor Premji Invest, the investment arm of Azim Premji, also participated in the round. Other existing investors, Mayfield India and Nadathur Holdings will continue to remain invested in the company, the statement said.
Prior to this round, Amagi had raised $25 million from Premji Invest, Mayfield India and Nadathur Holdings.
The growth capital from the latest 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 (over-the-top) networks.
“Emerald Media has 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,” said Amagi co-founder Baskar Subramanian.
Amagi enables TV networks to create a complete broadcast workflow on the cloud and deliver content over satellite, cable, IPTV or OTT platforms. Amagi’s patented technologies allow advertisers to target audiences at a regional level across traditional TV and OTT multiscreen platforms.
Amagi is based in Bengaluru with offices in New York, London and Hong Kong. It has deployments in over 30 countries for leading TV networks, and in India, its TV ad network supports over 3,000 brands, the statement said.