India: KKR-backed Emerald Media leads $35m funding round in Amagi Media

Photo: Reuters

Global investment firm KKR-backed Emerald Media on Thursday announced that it has acquired a significant minority stake in Amagi Media Labs (Amagi), a media technology company.

Emerald has lead the combination of primary and secondary $35 million Series D round in Amagi, which has also seen participation from Premji Invest, the investment arm of Azim Premji and also an existing shareholder in the technology firm, according to a press statement.

Mayfield India and Nadathur Holdings will continue to remain invested in the company, the statement added.

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.

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, the statement 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,” said Baskar Subramanian, Co-founder of Amagi.

Amagi enables TV networks to create a complete broadcast workflow on the cloud and deliver content over satellite, cable, IPTV or OTT (Over-The-Top) platforms. Using Amagi’s patented technologies, advertisers can target audiences at a regional level across traditional TV and OTT multiscreen platforms. The firm claims to have deployments in over 30 countries for leading TV networks and being India’s largest TV Ad network supporting more than 3,000 brands.

Prior to this round, Amagi had raised $25 million from Premji Invest, Mayfield India and Nadathur Holdings.

“Amagi has harnessed the transformative power of technology (both hardware and software) to change the way TV networks and brands perceive content delivery and monetization. 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,” Rajesh Kamat, Managing Director of Emerald Media, said.

Emerald Media primarily focuses on providing growth capital to media, entertainment and digital media companies. KKR has committed up to $300mm from its KKR Asian Fund II for the firm.

Also Read: Mayfield raises $525m across two funds, enters later-stage investing

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.